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 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.

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