The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31,20 Y2: 1. Prepare a multiple-step income statement. Be sure to complete the statement heading. Refer to the problem data and the ist of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon ( ) will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Prepare a statement of stockholders' equily. Additional common stock of $75,000 was issued during the year ended May 31,20 Y2. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a balance sheet, assuming that the current portion of the note payabie is $50,000. Be sure to complete the statement heading. Reler to the problem data and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon (9) will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Briefly explain how multiple-step and single-step income statements differ. The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31,20 Y2: 1. Prepare a multiple-step income statement. Be sure to complete the statement heading. Refer to the problem data and the ist of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon ( ) will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Prepare a statement of stockholders' equily. Additional common stock of $75,000 was issued during the year ended May 31,20 Y2. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a balance sheet, assuming that the current portion of the note payabie is $50,000. Be sure to complete the statement heading. Reler to the problem data and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon (9) will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Briefly explain how multiple-step and single-step income statements differ