Farm Fresh Boof Company uses a perpetual inventory system. The records of Farm Fresh Beef Company list the following selected accounts for the quarter ended April 30, 2018 Click the icon to view the accounts.) Read the requirements Requirement 1. Prepare a single-step income statement. (Abbreviation used: Eq. - Equipment.) Farm Fresh Beef Company Income Statement Quarter Ended April 30, 2018 hoose from any list or enter any number in the input fields and then click Check Answer. Data Table Interest Revenue $ 800 $ 45,800 Merchandise Inventory Notes Payable, long-term Salaries Payable 50,000 2,200 Accounts Payable Accounts Receivable Accumulated Depreciation--Equipment Common Stock Retained Earnings 17,400 35,200 35,800 34,000 19,950 18,000 Nel Sales Revenue 306,000 21,500 Dividends 2,300 7.300 5,500 168,300 Rent Expense (Selling) Salaries Expense (Administrative) Office Supplies Unearned Revenue Interest Expense Depreciation Expense-Equipment (Administrative) 13,600 Cash Cost of Goods Sold Equipment Interest Payable Rent Expense (Administrative) 135,000 2,000 1,300 1,350 9,300 35,800 50,000 2,200 306,000 34.000 19,950 18,000 7.300 21,500 2,300 Notes Payable, long-term Salaries Payable Net Sales Revenue Rent Expense (Selling) Salaries Expense (Administrative) Office Supplies Unearned Revenue Interest Expense Depreciation Expense-Equipment (Administrative) Utilities Expense (Administrative) Delivery Expense (Selling) 5,500 Accumulated Depreciation-Equipment Common Stock Retained Earnings Dividends Cash Cost of Goods Sold Equipment Interest Payable Rent Expense (Administrative) Salaries Expense (Selling) Utilities Expense (Selling) 168,300 13,600 2,000 135,000 1,300 9,300 1,350 4,900 5.900 11,500 3,000 i Requirements . 1. Prepare a single-step income statement. 2. Prepare a multi-step income statement 3. C. Donoven, manager of the company, strives to earn a gross profit percentage of at least 50%. Did Farm Fresh achieve this goal? Show your calculations