A Cut Above Beef Company uses a perpetual inventory system. The records of A Cut Above Beef Company list the following selected accounts t (Click the icon to view the accounts.) Read the requirements. Requirement 1. Prepare a single-step income statement. (Abbreviation used: Eq. = Equipment) A Cut Above Beef Company Income Statement Quarter Ended April 30, 2024 Revenues: Net Sales Revenue Interest Revenue 292,000 700 292,700 Total Revenues Expenses: Cost of Goods Sold 157,680 Rent Expense Administrative 9,400 Salaries Expense-Administrative 2,500 Depreciation Expense Eq-Administrative 1,320 Utilities Expense Administrative 4,100 Delivery Expense-Selling 3,000 Rent Expense-Selling 21,600 Salaries Expense-Selling Utilities Expense-Selling Interest Expense 6,200 10,500 1,700