The following amounts appeared on Excel Company's adjusted trial balance as of May 31, 2014, the end of its fiscal year:

Required
1. Present a classified multiple-step income statement for internal users that lists the company's net sales, cost of goods sold and gross profit, as well as the components and amounts of selling expenses and general and administrative expenses.
2. Present a condensed single-step income statement that lists these costs: cost of goods sold, selling expenses, and general and administrative expenses.