3. The following information is provided for the Ramsey Corporation as of December 31, 2016:

Account	Debit	Credit
Cost of goods sold	$78,460
Delivery expenses	3,250
Depreciation sales equipment	4,500
Depreciation office equipment	6,500
Sales basic salaries + commission	9,250
Office salaries	6,890
Sales revenue		125,000
Interest revenue		2,500
Interest expense	1,225
Income tax 30%

Required:

1. Prepare a multi-step income statement
2. Prepare a single-step income statement