Need instructions number 3 and 4

csw Company and (2) Bird Company PR 5-5B Multiple-step income statement and report form of balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2016 OBJ. 3 me: Cash Accounts Receivable Merchandise Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation- 92,000 Dividends 450,000 Sales 375,000 Cost of Merchandise Sold 10,000 Sales Salaries Expense 12,000 Advertising Expense 220,000 Depreciation Expense- $ 300,000 8,925,000 5,620,000 850,000 420,000 Store Equipment Office Equipment Store Equipment Accumulated Depreciation- 33,000 18,000 540,000 48,000 24,000 58,000 Miscellaneous Selling Expense 650,000Office Salaries Expense Rent Expense Store Equipment Accounts Payable Salaries Payable Note Payable 87,500 Insurance Expense 48,500 Depreciation Expense- 4,000 Office Equipment 10,000 4,000 6,000 12,000 Office Supplies Expense Miscellaneous Administrative Exp. 140,000 (final payment due 2032) Common Stock Retained Earnings 50,000 Interest Expense 381,000 Instructions 1. Prepare a multiple-step income statement 2. Prepare a retained earnings statement assuming that the current portion of the note payable is $7,000. 4.Briefly explain (a) how multiple-step and single-step income statements differ and (b) how report-form and account-form balance sheets difer