In Progress Two accountants for the form 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 Sunland Company (5000 omitted). Administrative expense Officers salaries $5,593 Depreciation of office furniture and equipment 4,653 Cost of goods sold 61.263 Rent revenue 17.923 Selling expense Delivery expense 3,383 Sales commissions 8,673 Depreciation of sales equipment 7.173 Sales revenue 97.193 Income tax 9.763 Interest expense 2.553 Common shares outstanding for 2020 total 24,124 (000 omitted) Prepare an income statement for the year 2020 using the single-step form. (Round earnings per share to 2 decimal places, es 148.) SUNLAND COMPANY Income Statement For the Year Ended December 31, 2020 (In thousands, except earnings per share) Revenues Sales Revenue Rent Revenue Total Revenues Expenses Cost of Goods Sold Selling Expenses Delivery Expense Salon Commission Total Expenses Total Revenues Expenses Cost of Goods Sold Selling Expenses Delivery Expense Sales Commission Total Expenses Net Income/(Loss) $ Earnings Per Share e Textbook and Media List of Accounts MacBook Air