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Please help: Income statement has 23 slots Owner's Equity has 5 slots Balance Sheet has 32 slots Labels Administrative expenses Current assets Current liabilities For

Please help:

Income statement has 23 slots

Owner's Equity has 5 slots

Balance Sheet has 32 slots

Labels
Administrative expenses
Current assets
Current liabilities
For the Year Ended May 31, 20Y2
Long-term liabilities
May 31, 20Y2
Operating expenses
Other revenue and expense
Property, plant, and equipment
Selling expenses
Amount Descriptions
Additional investment by owner
Book value-office equipment
Book value-store equipment
Gross profit
Maureen Leon, capital, June 1, 20Y1
Maureen Leon, capital, May 31, 20Y2
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 owner's equity
Total operating expenses
Total property, plant, and equipment
Total selling expenses
Withdrawals

The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 20Y2:

Cash $243,100
Accounts receivable 964,900
Inventory 1,788,600
Estimated returns inventory 21,200
Office supplies 17,800
Prepaid insurance 8,400
Office equipment 825,900
Accumulated depreciation-office equipment 543,800
Store equipment 3,609,700
Accumulated depreciation-store equipment 1,814,900
Accounts payable 351,300
Salaries payable 44,100
Customer refunds payable 39,200
Estimated coupons payable 5,000
Note payable (final payment due in 6 years) 289,000
Maureen Leon, capital 3,644,600
Maureen Leon, drawing 94,200
Sales 11,281,200
Cost of goods sold 7,858,000
Sales salaries expense 917,600
Advertising expense 551,900
Depreciation expense-store equipment 149,700
Miscellaneous selling expense 36,600
Office salaries expense 668,600
Rent expense 99,800
Depreciation expense-office equipment 56,200
Insurance expense 38,600
Office supplies expense 32,700
Miscellaneous administrative expense 7,900
Interest expense 21,700
Required:
1. Prepare a multiple-step income statement.
2. Prepare a statement of owner's equity. Maureen Leon invested an additional $75,000 in the business during the year ended May 31, 20Y2.
3. Prepare a balance sheet, assuming that the current portion of the note payable is $42,000.
4. Briefly explain how multiple-step and single-step income statements differ.

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