The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7:

Cash	$127,500		Retained Earnings	$562,000
Accounts Receivable	340,000		Dividends	76,400
Inventory	387,600		Sales	4,670,600
Estimated Returns Inventory	5,000		Cost of Goods Sold	2,701,600
Office Supplies	12,000		Sales Salaries Expense	759,700
Prepaid Insurance	9,300		Advertising Expense	208,900
Office Equipment	280,600		Depreciation Expense Store Equipment	40,700
Accumulated Depreciation Office Equipment	190,700		Miscellaneous Selling Expense	17,800
Store Equipment	876,000		Office Salaries Expense	414,700
Accumulated Depreciation Store Equipment	280,600		Rent Expense	61,200
Accounts Payable	194,200		Depreciation Expense Office Equipment	30,600
Customer Refunds Payable	10,000		Insurance Expense	19,000
Salaries Payable	12,400		Office Supplies Expense	11,200
Note Payable (final payment due 2024)	407,500		Miscellaneous Administrative Exp.	8,100
Common Stock	72,300		Interest Expense	12,400

Required:

1. Prepare a multiple-step income statement.

Kanpur Co. Income Statement For the Year Ended June 30, 20Y7
			$
			$
Expenses:
Selling expenses:
	$
Total selling expenses		$
Administrative expenses:
	$
Total administrative expenses
Total operating expenses
			$
			$

2. Prepare a statement of stockholders equity. Additional common stock of $7,500 was issued during the year ended June 30, 20Y7.

Kanpur Co. Statement of Stockholders Equity For the Year Ended June 30, 20Y7
	Common Stock	Retained Earnings	Total
	$	$	$
	$	$	$

3. Prepare a balance sheet, assuming that the current portion of the note payable is $20,375.

KANPUR CO. Balance Sheet June 30, 20Y7
Assets
Current assets:
		$
Total current assets			$
Property, plant, and equipment:
	$
		$
	$
Total property, plant, and equipment
Total assets			$
Liabilities
Current liabilities:
		$
Total current liabilities			$
Long-term liabilities:
Total liabilities			$
Stockholders' equity
		$
Total stockholders' equity
Total liabilities and stockholders' equity			$

4. Which type of income statement shows intermediate balances?