Exercise 4-12 (Part Level Submission) Two accountants, Yuan Tsui and Sergio Aragon, are arguing about the merits of presenting an income statement in the multiple-stup versus the single step format. The discution involves the following 2020 information for P. Bride Company (in thousands) Administrative expenses Selling expenses Officers' salaries $4,200 Delivery $2,410 Depreciation of office furniture and equipment 3,260 Sales commissions 65,340 Cost of goods sold 59,530 Depreciation of sales equipment 6,270 Rental revenue 14,280 Sales revenue 304,600 Interest expense 1,670 Common shares outstanding for 2020 total 30,000 (in thousands). Income tax for the year was $17,620. (a) Prepare an income statement for the year ended December 31, 2020, using the multiple step format, showing expenses by funcbon Indude calculation of Eps. (tet Selling Expenses before Administrative Expenses. Round per share answer to 2 decimal places, e., 52.75.) P. Bride Company Income Statement (in thousands, except earnings per share)