E4.8 (LO 5) (Multiple-Step and Single-Step-Periodic Inventory Method) Income statement information for Flett Tire Repair Corporation for the year 2020 follows: Instructions a. Prepare a multiple-step income statement for 2020, showing expenses by function. b. Prepare a single-step income statement for 2020, showing expenses by nature. c. Discuss the merits of the two income statements, compared with each other