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Two accountants for the firm of Elwes 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 2020 information related to Bonita Company (S000 omitted). Administrative expense Officers' salaries $5,552 Depreciation of office furniture and equipment 4,612 Cost of goods sold 61,222 Rent revenue 17,882 Selling expense Delivery expense 3,342 Sales commissions 8,632 Depreciation of sales equipment 7,132 Sales revenue 97,152 Income tax 9,722 2,512 Interest expense Common shares outstanding for 2020 total 30,770 (000 omitted). BONITA COMPANY Income Statement December 31, 2020 (In thousands, except earnings per share) Sales Revenue 97.152 Rent Revenue 17,882 Total Revenues Income Before Income Tax 9 Expenses Cost of Goods Sold Delivery Expense Sales Commission Expenses : e) Earnings Per Share U 404 Earnings Per Share - Your answer is partially correct. Prepare an income statement for the year 2020 using the single-step form. (Round earnings per share to 2 decimal pla BONITA COMPANY Income Statement For the Year Ended December 31, 2020 - (In thousands, except earnings per share) e Textbook and Media List of Accounts