The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2018:

Cash

$ 240,000

Accounts receivable

966,000

Inventory

1,690,000

Estimated returns inventory

22,500

Office supplies

13,500

Prepaid insurance

8,000

Office equipment

830,000

Accumulated depreciation-office equipment

550,000

Store equipment

3,600,000

Accumulated depreciation-store equipment

1,820,000

Accounts payable

326,000

Customer refunds payable

40,000

Salaries payable

41,500

Note payable (final payment due 2024)

300,000

Common stock

500,000

Retained earnings

2,949,100

Dividends

100,000

Sales

11,343,000

Cost of goods sold

7,850,000

Sales salaries expense

916,000

Advertising expense

550,000

Depreciation expense-store equipment

140,000

Miscellaneous selling expense

38,000

Office salaries expense

650,000

Rent expense

94,000

Depreciation expense-office equipment

50,000

Insurance expense

48,000

Office supplies expense

28,100

Miscellaneous administrative expense

14,500

Interest expense

21,000

1.	CLAIREMONT CO.
	Income Statement
	For the Year Ended May 31, 2018
		Sales								#ERROR!
		Cost of goods sold								#ERROR!
		Gross profit								#ERROR!
		Expenses:
		Selling expenses:
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			Total selling expenses					#ERROR!
		Administrative expenses:
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			Total administrative expenses					#ERROR!
		Total operating expenses								#ERROR!
		Income from operations								#ERROR!
		Other revenue and expense:
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		Net income								#ERROR!
2.	CLAIREMONT CO.
	Retained Earnings Statement
	For the Year Ended May 31, 2018
		Retained earnings, June 1, 2017								#ERROR!
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		Retained earnings, May 31, 2018								#ERROR!
3.	CLAIREMONT CO.
	Balance Sheet
	For the Year Ended May 31, 2018
		Assets
		Current assets:
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		Total current assets:								#ERROR!
		Property, plant and equipment:
		Office equipment				#ERROR!
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		Store equipment				#ERROR!
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			Total property, plant, and equipment							#ERROR!
		Total assets								#ERROR!
		Liabilities
		Current liabilities:
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		Total current liabilities:								#ERROR!
		Long-term liabilities:
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		Total liabilities								#ERROR!
		Stockholders' Equity
		Common stock						#ERROR!
		Retained earnings						#ERROR!
		Total stockholders' equity								#ERROR!
		Total liabilities and stockholders' equity								#ERROR!