preare a statement of stockholder's equity. additional common stock if 7,500 was issued during the year ended June 30, 20Y7.

2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued during the year ended June 30, 2077. Kanpur Co. Statement of Stockholders' Equity For the Year Ended June 30, 2017 Common Stock Retained Earnings Total Balances, July 1, 2016 51,000 X 639,300 x 690,300 X 40,000 X 40,000 X Issued common stock Net Income 83,790 X 83,790 X 9,220 X Dividends 9,220 X Balances, June 30, 2017 91,000 x 713,870 x 804,870 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. eBook Calculator Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2017: Cash $92,000 Retained Earnings $381,000 Accounts Receivable 450,000 Dividends 300,000 Inventory 370,000 Sales 8,925,000 Estimated Returns Inventory 5,000 Cost of Goods Sold 5,620,000 Office Supplies 10,000 Sales Salaries Expense 850,000 Prepaid Insurance 12,000 Advertising Expense 420,000 Office Equipment 220,000 Depreciation Expense--Store Equipment 33,000 Accumulated Depreciation-Office Equipment 58,000 Miscellaneous Selling Expense 18,000 Store Equipment 650,000 Office Salaries Expense 540,000 Accumulated Depreciation--Store Equipment 87,500 Rent Expense 10,000 Accounts Payable 38,500 Insurance Expense 24,000 Customers Refunds Payable 10,000 Depreciation Expense --Office Equipment 10,000 Salaries Payable 4,000 Office Supplies Expense 4,000 Note Payable (final payment due in 20 years) 140,000 Miscellaneous Administrative Exp. 6,000 Common Stock 50,000 interest Expense 12,000 Required: 1. Prepare a multiple step income statement. KANPUR CO. Catamant Income Statement For the Year Ended June 30, 2017 Sales 8,925,000 Cost of goods sold 5,620,000 Gross profit 3,305,000 Expenses: Selling expenses Sales salaries expense Advertising expense 850,000 420,000 33,000 Depreciation expense-store equipment Miscellaneous selling expense 18,000 Total selling expenses 1,321,000 Administrative expenses Office salaries expense 540,000 48,000 Rent expense Insurance expense 24,000 10,000 Depreciation expense-office equipment Check My Work Previ 540,000 48,000 Rent expense Insurance expense 24,000 10,000 Depreciation expense-office equipment Office supplies expense 4,000 6,000 Miscellaneous administrative expense Total administrative expenses Total operating expenses 632,000 1,953,000 Operating income 1952,000 Other revenue and expense: Interest expense - 12,000 Net Income 1,340,000 2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued during the year ended June 30, 2017