The following selected accounts and their current balances appear in the ledger of Druid Hills Co. for the fiscal year ended May 31, 20Y8:

Cash	$238,400
Accounts Receivable	960,300
Merchandise Inventory	1,644,400
Office Supplies	6,500
Prepaid Insurance	3,900
Office Equipment	830,000
Accumulated Depreciation-Office Equipment	545,800
Store Equipment	3,601,100
Accumulated Depreciation-Store Equipment	1,823,000
Accounts Payable	365,400
Customer Refunds Payable	48,500
Salaries Payable	39,900
Note Payable*	308,000
Kristina Marble, Capital	3,361,800
Kristina Marble, Drawing	90,600
Sales	11,285,800
Cost of Merchandise Sold	7,857,300
Sales Salaries Expense	904,200
Advertising Expense	555,700
Depreciation Expense-Store Equipment	146,600
Miscellaneous Selling Expense	35,800
Office Salaries Expense	668,700
Rent Expense	96,200
Depreciation Expense-Office Equipment	41,000
Insurance Expense	46,800
Office Supplies Expense	24,900
Miscellaneous Administrative Expense	5,200
Interest Expense	20,600
*final payment due in 10 years

	Required:
1.	Prepare a multiple-step income statement.*
2.	Prepare a statement of owners equity.*
3.	Prepare a balance sheet, assuming that the current portion of the note payable is $56,900.*
4.	How multiple-step and single-step income statements differ.

*Be sure to read the instructions for each financial statement carefully.