Single Step Income Statement Selected accounts and related amounts for Kanpur Co. for the fiscal year ended June 30, 2019, are shown below. Cash $92,000 Gerri Faber, Drawing $300,000 Accounts Receivable 450,000 Sales 8,925,000 Merchandise Inventory 5,620,000 Estimated Returns Inventory 850,000 Office Supplies 420,000 33,000 18,000 Prepaid Insurance Office Equipment Accumulated Depreciation-office Equipment Store Equipment Accumulated Depreciation --Store Equipment 540,000 370,000 Cost of Merchandise Sold 5,000 Sales Salaries Expense 10,000 Advertising Expense 12,000 Depreciation Expense-Store Equipment 220,000 Miscellaneous Selling Expense 58,000 Office Salarios Expense 650,000 Rent Expense 87,500 Insurance Expense 38,500 Depreciation Expense Office Equipment 10,000 Office Supplies Expense 4,000 Miscellaneous Administrative Exp. 140,000 Interest Expense 48,000 24.000 Accounts Payable 10,000 Customer Refunds Payable 4,000 Salaries Payable 6,000 12,000 Note Payable (final payment due 2032) Gerri Faber Capital 431,000 1:17 PM Note Payable (final payment due 2032) 140,000 Interest Expense 12,000 Gerri Faber, Capital 431,000 Required: 1. Prepare a single-step income statement in the format shown in Exhibit 12 Single-Step Income Statement 1 2. Expenses 3 4 5 6 7 Total expenses Date Account Debit Credit 1 June 30, 2019 2 3 4 5 6 7 B 9