The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2019:

Cash	$ 245,100
Accounts Receivable	971,100
Merchandise Inventory	1,786,300
Estimated Returns Inventory	22,500
Office Supplies	15,200
Prepaid Insurance	3,400
Office Equipment	836,100
Accumulated Depreciation-Office Equipment	559,400
Store Equipment	3,598,200
Accumulated Depreciation-Store Equipment	1,827,700
Accounts Payable	362,600
Customer Refunds Payable	22,500
Salaries Payable	40,800
Note Payable (final payment due 2022)	288,000
Kristina Marble, Capital	3,464,100
Kristina Marble, Drawing	104,200
Sales	11,442,000
Cost of Merchandise Sold	7,846,400
Sales Salaries Expense	922,900
Advertising Expense	542,700
Depreciation Expense-Store Equipment	146,100
Miscellaneous Selling Expense	47,000
Office Salaries Expense	658,600
Rent Expense	98,800
Depreciation Expense-Office Equipment	47,000
Insurance Expense	49,500
Office Supplies Expense	18,500
Miscellaneous Administrative Expense	18,300
Interest Expense	29,200

Below are the questions

Required:
1.	Prepare a multiple-step income statement. In the Other revenue and Operating Expenses section only, enter amounts that represent Other revenue and Operating Expenses as negative numbers using a minus sign.*
2.	Prepare a statement of owners equity. Use a minus (-) sign to indicate any negative amount.*
3.	Prepare a report form of balance sheet, assuming that the current portion of the note payable is $46,000. Less or Plus will automatically appear if it is required.*
4.	Which type of income statement shows intermediate balances?

*Be sure to complete the statement headings. Refer 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 (:) will automatically appear if it is required.

the following are the labels to be used

Labels
Administrative Operating Expenses
Current assets
Current liabilities
For the Year Ended May 31, 2019
Long-term liabilities
May 31, 2019
Operating Expenses
Other revenue and expense
Property, plant, and equipment
Selling Operating Expenses
Amount Descriptions
Gross profit
Income from operations
Increase in owners equity
Kristina Marble, capital, June 1, 2018
Kristina Marble, capital, May 31, 2019
Withdrawals
Net income
Net income for the year
Net loss
Total administrative operating expenses
Total assets
Total current assets
Total current liabilities
Total liabilities
Total liabilities and owners equity
Total operating expenses
Total property, plant, and equipment
Total selling operating expenses