The following selected accounts and their current balances appear in the ledger of Clairemont Co$.$ for the fiscal year ended May $31,20$Y$2$:

Cash : $$244,200$

Accounts receivable : $956,700$

Inventory : $1,612,700$

Estimated returns inventory : $23,300$

Office supplies : $18,900$

Prepaid insurance : $3,000$

Office equipment : $829,000$

Accumulated depreciation$-$office equipment : $552,400$

Store equipment $3,606,800$

Accumulated depreciation$-$store equipment : $1,817,800$

Accounts payable : $367,700$

Salaries payable $46,100$

Customer refunds payable $38,900$

Estimated coupons payable $5,000$

Note payable $($final payment due in $6$ years$)310,000$

Common stock $501,700$

Retained earnings $2,759,300$

Dividends $109,500$

Sales $11,401,400$

Cost of goods sold $7,848,200$

Sales salaries expense $907,500$

Advertising expense $542,000$

Depreciation expense$-$store equipment $132,800$

Miscellaneous selling expense $43,900$

Office salaries expense $657,500$

Rent expense $96,600$

Depreciation expense$-$office equipment $52,900$

Insurance expense $57,900$

Office supplies expense $31,300$

Miscellaneous administrative expense $9,100$

Interest expense $16,500$

Required:

$1.$ Prepare a multiple$-$step income statement.

$2.$ Prepare a statement of stockholders$$ equity. Additional common stock of $$75,000$ was issued during the year ended May $31,20$Y$2.$

$3.$ Prepare a balance sheet, assuming that the current portion of the note payable is $$48,000.$

$4.$Which type of income statement shows intermediate balances? Single$-$step or Multiple$-$step