Navaria Inc. manufactures and sells chair lift mobility aids. These are chairlift systems designed for inhome use to aid persons with mobility challenges. The company sells its systems online and through a network of independent sales agents. Installation of the systems is done by independent contractors hired directly by Navarias customers. The following information was taken from Navarias financial records for the year ended June 30, 2020:

(in thousands of dollars)
Administrative expenses		$9,485
Cost of goods sold		79,883
Other expenses		642
Financing expenses		825
Interest revenue		632
Income tax expense		4,962
Sales revenue		120,183

		Wages		Rental of Equipment		Advertising		Depreciation
Engineering activities		$1,923		$71		$0		$524
Research and development activities		770		36		0		128
Sales and marketing activities		3,579		0		5,887		27

Prepare a multi-step statement of income for the year ended June 30, 2020 that reports expenses by nature. (Enter amounts in thousands.)

Prepare a multi-step statement of income for the year ended June 30, 2020 that reports expenses by function. (Enter amounts in thousands.)

**This is all the information provided. No balance sheet data was given**

Prepare a multi-step statement of income for the year ended June 30, 2020 that reports expenses by nature. (Enter amounts in thousands.) Navaria Inc. Statement of Income For the Year Ended June 30, 2020 (in thousands of dollars) Sales Revenue $ 120183 Cost of Goods Sold 79883 Gross Profit 40300 Operating Expenses Total Operating Expenses Income from Operations Other Revenue and Expenses Profit before Income Tax Income Tax Expense Net Income $ Prepare a multi-step statement of income for the year ended June 30, 2020 that reports expenses by function. (Enter amounts in thousands.) Navaria Inc. Statement of Income (in thousands of dollars) $ $