The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019:

Multiple-Step Income Statement and Report Form of Balance Sheet
The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019:
Cash $117,000 Gerri Faber, Drawing $70,100
Accounts Receivable 317,500 Sales 4,229,500
Merchandise Inventory 355,600 Cost of Merchandise Sold 2,478,500
Estimated Returns Inventory 14,050 Sales Salaries Expense 697,000
Office Supplies 11,000 Advertising Expense 191,700
Prepaid Insurance 8,500 Depreciation Expense—Store Equipment 37,300
Office Equipment 257,500 Miscellaneous Selling Expense 16,400
Accumulated Depreciation—Office Equipment 175,000 Office Salaries Expense 380,500
Store Equipment 803,700 Rent Expense 56,200
Accumulated Depreciation—Store Equipment 257,500 Insurance Expense 17,400
Accounts Payable 178,200 Depreciation Expense—Office Equipment 28,100
Customer Refunds Payable 28,100 Office Supplies Expense 10,300
Salaries Payable 11,400 Miscellaneous Administrative Exp. 7,500
Note Payable (final payment due 2032) 375,000 Interest Expense 11,400
Gerri Faber, Capital 632,550
Required:
1.  Prepare a multiple-step income statement.

Prepare a statement of owner's equity.

Prepare a balance sheet, assuming that the current portion of the note payable is $15,000.

4.  Which type of income statement shows intermediate balances? 

Multiple-step 

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