The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2019: Required: 1. Prepare a single-step income statement. Combine selling expenses together in a single ontry and combine administrative expenses together in a single entry: 2. Prepare closing entries as of May 31, 2019. Refer to the Chart of Accounts for exact wording of account titles. '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