The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2019: Cash $ 238,400 Accounts Receivable 965,200 Merchandise Inventory 1,771,300 Estimated Returns Inventory 22,500 Office Supplies 21,700 Prepaid Insurance 6,900 Office Equipment 839,300 Accumulated Depreciation Office Equipment 541,200 Store Equipment 3,594,100 Accumulated Depreciation Store Equipment 1,821,000 Accounts Payable 362,900 Customer Refunds Payable 22,500 Salaries Payable 40,700 Note Payable (final payment due 2022) 318,000 Kristina Marble, Capital 3,441,600 Kristina Marble, Drawing 100,000 Sales 11,417,000 Cost of Merchandise Sold 7,843,800 Sales Salaries Expense 921,600 Advertising Expense 557,600 Depreciation Expense-Store Equipment 141,900 Miscellaneous Selling Expense 46,400 Office Salaries Expense 643,900 Rent Expense 99,000 Depreciation Expense-Office Equipment 49,000 Insurance Expense 46,900 Office Supplies Expense 24,900 Miscellaneous Administrative Expense 11,600 Interest Expense 18,900 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 owner's 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 $49,900. 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 and Amount Descriptions 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 owner's 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 owner's equity Total operating expenses Total property, plant, and equipment Total selling operating expenses Income Statement Prepare a multiple-step income statement. Be sure to complete the statement heading. 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. 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. Clairemont Company Income Statement (Label 1 2 + Label) 5 Selling Operating Expenses 10 11 Administrative Operating Expenses: 12 13 14 15 16 17 18 19 20 21 (Label) 22 23 Statement of Owner's Equity Prepare a statement of owner's equity. Use a minus (-) sign to indicate any negative amount.* Be sure to complete the statement heading. Refer to 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. Clairemont Company Statement of Owner's Equity (Label) 1 2 3 4 5 Balance Sheet Prepare a report form of balance sheet, assuming that the current portion of the note payable is $49.900. Be sure to complete the statement heading. 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. Order the Property, Plant & Equipment accounts in the order shown on the instructions page. A colon (1) will automatically appear if it is required. "Less" or "Plus" will automatically appear if it is required. Clairemont Company Balance Sheet (Label) 1 Assets 2 (Label) 3 4 5 6 7 8 9 10 (Label) 11 12 13 14 15 16 17 Liabilities 18 (Label) 19 20 21 22 23 24 (Label) 25 26 27 Owner's Equity 28 29