A Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2020 information related to Wildhorse Company (5000 omitted) Vie Que Accou $5.202 4,262 60,872 17,532 Administrative expense Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rent revenue Selling expense Delivery expense Sales commissions Depreciation of sales equipment Sales revenue Income tax Interest expense Que: Accou 2.992 8.282 6.782 96,802 9,372 2,162 Quest Account Quest Account Common shares outstanding for 2020 total 36,020 (000 omitted)