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The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y5 Cash: $135,500
The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y5 Cash: $135,500 Gerri Faber, Drawing: $81,200 Accounts Receivable: 347,600 Sales: 4,899,700 Merchandise Inventory:411,950 Cost of Merchandise Sold:2,871,300 Office Supplies:12,800 Sales Salaries Expense:807,400 Prepaid Insurance:9,900 Advertising Expense:222,000 Office Equipment: 298,300 Depreciation ExpenseStore Equipment:43,300 Accumulated DepreciationOffice Equipment:202,700 Miscellaneous Selling Expense:18,900 Store Equipment:931,000 Office Salaries Expense: 440,800 Accumulated DepreciationStore Equipment: 298,300 Rent Expense: 65,100 Accounts Payable: 206,400 Insurance Expense: 20,200 Customer Refunds Payable:32,50 1. Prepare a multiple-step income statement. 2. Prepare a statement of owner's equity. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $17,300. 4. Which type of income statement shows intermediate balances
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