$21,000 The following information is available for Wright Auto Supply at December 31, 2019. Cost of goods sold $229,300 Rent expense Depreciation expense 31,250 Salaries (administrative) Income taxes expense 32,520 Sales revenue Interest expense 2,400 Wages expense (salespeople) 33,800 543,100 110,000 1. Prepare a single-step income statement for the year ended December 31, 2019 Wright Auto Supply Income Statement For the Year Ended December 31, 2019 Revenues: Expenses: Qllllll Total expenses 2. Prepare a multiple-step income statement for the year ended December 31, 2019 Wright Auto Supply Income Statement For the Year Ended December 31, 2019 DOO Operating expenses: Other expenses and losses: 3. Conceptual Connection Comment on the differences between the single-step and the multiple-step income statements by answering true or false to the following: a. Both a single-step income statement and a multiple-step income statement report the same amount for net income. b. A single-step income statement provides three important classifications that financial statement users find useful-gross margin, income from operations, and net income. c. The only difference between the two formats is how the revenues and expenses are classified