The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31st,2022.

The following selected accounts and their current balances appear in the ledger  of Clairemont  Co. for the fiscal year ended May 31st,2022.  Cash   $                                                            2,40,000.00  Sales   $       1,13,43,000.00  Accounts Receivable   $                                                            9,66,000.00  Customer Refunds Payable   $                40,000.00  Merchandise Inventory   $                                                         16,90,000.00  Estimated Returns Inventory   $                22,500.00  Office Supplies   $                                                               13,500.00  Cost of Merchandise sold   $          78,50,000.00  Prepaid Insurance   $                                                                  8,000.00  Sales Salaries Expense   $             9,16,000.00  Office Equipment   $                                                            8,30,000.00  Advertising Expense   $             5,50,000.00  Accumulated Depreciation-Office Equipment   $                                                            5,50,000.00  Depreciation-Store Equipment   $             1,40,000.00  Store Equipment   $                                                         36,00,000.00  Miscellaneous selling expense   $                38,000.00  Accumulated Depreciation-Store Equipment   $                                                         18,20,000.00  Office Salaries Expense   $             6,50,000.00  Accounts Payable   $                                                            3,26,000.00  Rent Expense   $                94,000.00  Customer refunds payable   $                                                               40,000.00  Depreciation Expense-Office Equipment   $                50,000.00  Salaries Payable   $                                                               41,500.00  Insurance Expense   $                48,000.00  Notes Payable(Final payment due 2022)   $                                                            3,00,000.00  Office Supplies Expense   $                28,100.00  Kristina Marble Capital   $                                                         34,49,100.00  Miscellaneous administrative expense   $                14,500.00  Kristina Marble Drawings   $                                                            1,00,000.00  Interest Expense   $                21,000.00         Requirements) 1) Prepare Multistep Income Statement. 2) Prepare a Statement of Owner's Equity. 3) Prepare a report form balance sheet assuming that current portion of note payable is $50,000. 4) Explain difference between multiple and single form of income statement. 5) Prepare Post closing entries.