Soda Pop Beverages uses a perpetual inventory system. The records of Soda Pop Beverages list the following selected accounts for the quarter endedApril 30, 2025. All accounts have normal balances.. . .Requirement 1. Prepare a single-step income statement.Soda Pop BeveragesIncome StatementQuarter Ended April 30, 2025 Interest RevenueMerchandise Inventory Notes Payable, long-termSales Discounts Sales Returns and AllowancesSales Revenue Rent Expense (Selling)Supplies Unearned Revenue Interest Expense Depreciation Expense—Equipment (Administrative) Utilities Expense (Administrative) 5 30045,80047,000 5,0007,000312,00021,7005,90013,4002,3001,2604,900 Accounts Payable Accounts ReceivableAccumulated Depreciation—EquipmentWolfe, Capital Wolfe, Withdrawals Cash Cost of Goods SoldEquipment Interest Payable Rent Expense (Administrative)Utilities Expense (Selling)Delivery Expense (Selling) 14,00038,80031,00054,86027,0008,000156,000126,0001,5009,20011,5003,700 Soda Pop Beverages uses a perpetual inventory sysApril 30, 2025. All accounts have normal balances. View the accounts. ReCIUirementS Read the requirements. Prepare a single-step income statement.Prepare a multi-step income statement. The manager of the company strives to earn a gross profit percentage of atleast 50%. Did Soda Pop Beverages achieve this goal? Show yourcalculations. G ————————————————— Net Income (Loss)