In its income statement for the year ended December 31, 2017, Sale Company reported the following condensed data. Interest expense $ 50,000 Net sales $1,650,000 Operating expenses 590,000 Interest revenue 20,000 Cost of goods sold 902,000 Loss on disposal of equipment 7,000 Required (a) Prepare a multiple-step income statement. (b) Prepare a single-step income statement