E4-8 Single-step income statement Summary operating data for Lock-World Company during the current year ended November 30, 2012, are as follows: cost of merchandise sold, $4,300,000; admin istrative expenses, $500,000; interest expense, $20,000; rent revenue, $100,000; net sales, $7,200,000; and selling expenses, $750,000. Prepare a single-step in come statement