E4-4 Two accountants for the firm of Allen 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 2010 information related to Webster Company {$000 omitted). Administrative expense Officers' salaries $ 4,900 Depreciation of office furniture and equipment $3,900 Cost of goods sold $63,570 Rental revenue $17,230 Selling expense Transportation - out $2,690 Sales commissions $7,980 Depreciation of sales equipment $6,480 Sales $96,500 Income tax $7,580 Interest expense $1,860 Instructions (a) Prepare an income statement for the year 2010 using the multiple-step form. Common shares out