Argentina Company gathered the following condensed data for the year ended December 31, 2015:

cost of goods sold $750,000

net sales 1,200,000

operating expense 275,000

interest expense 48,000

dividend revenue 38,000

casualty loss from vandalism 125,000

1.Prepare a single-step income statement for the year ended December 31, 2015.

2.Prepare a multi-step income statement for the year ended December 31, 2015.