I need help figuring Statement of Stockholders' Equity. I do not understand how to get the Balances, July 1, 20Y6.

Also, I do not understand the Notes Payable portion on the Balance Sheet for current notes payable and long-term liabilities on Notes Payable

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

Cash

$127,700

Retained Earnings

$562,600

Accounts Receivable

346,400

Dividends

76,400

Inventory

388,000

Sales

4,675,400

Estimated Returns Inventory

5,000

Cost of Goods Sold

2,704,400

Office Supplies

12,000

Sales Salaries Expense

760,500

Prepaid Insurance

9,300

Advertising Expense

209,100

Office Equipment

280,900

Depreciation Expense

Store Equipment

40,700

Accumulated Depreciation

Office Equipment

190,900

Miscellaneous Selling Expense

17,800

Store Equipment

876,900

Office Salaries Expense

415,200

Accumulated Depreciation

Store Equipment

280,900

Rent Expense

61,300

Accounts Payable

194,400

Depreciation Expense

Office Equipment

30,700

Customer Refunds Payable

10,000

Insurance Expense

19,000

Salaries Payable

12,400

Office Supplies Expense

11,300

Note Payable

(final payment due 2024)

407,500

Miscellaneous Administrative Exp.

8,100

Common Stock

79,000

Interest Expense

12,400

Kanpur Co.

Statement of Stockholders' Equity

For the Year Ended June 30, 20Y7

CommonStock

RetainedEarnings

Total

Balances, July 1, 20Y6

Issued common stock

Net income

Dividends

Balances, June 30, 20Y7