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Need the Income statement, Statement of Stockholders equity, and balance sheet please! Multiple-step income statement and balance sheet Instructions The following selected accounts and their
Need the Income statement, Statement of Stockholders equity, and balance sheet please!
Multiple-step income statement and balance sheet Instructions The following selected accounts and their current balances appear in the ledger of Claircmont Co, for the fiscal year ended May 31,20Y2 : Balances, June 1, 20Y1 Balances, May 31, 20 Y2 Book value-office equipment Book value-store equipment Dividends Gross profit Issued common stock * Net income Net loss Note payable (current portion) Operating income Total administrative expenses Total assets Total current assets Total current liabilities Total liabilities Total liabilities and stockholders' equity Total operating expenses Total property, plant, and equipment Total selling expenses Total stonkholders' nouitv 1. Prepare a multiple-step income statement. 2. Prepare a statement of stockholders'equily. Additional common stock of $75,000 was issued during the yoar ended May 31,20Y2. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $56,000. 4. Briefly explain how multiple-step and single-steo income statements differ. Customer refunds payable 48,800 Estimated coupons payable 5,000 Note payable (final payment due in 6 years) 285,000 Common stock 507,300 Retained earnings 2,822,800 Dividends 108,200 Sales Cost of goods sold 11,405,100 Sales salaries expense 7,856,600 Advertising expense 908,400 Depreciation expense-store equipment 545,800 Miscellaneous selling expense 142,200 Office salaries expense 41,000 Rent expense 651,300 Depreciation expense-office equipment 90,800 Insurance expense 40,700 Office supplies expense 47,600 Miscellaneous administrative expense 35,000 Interest expense 15,200 28,200 Step by Step Solution
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