Single-Step Income Statement expense, $26,000; rent revenue, $85,000; sales, $552,500; and selling expenses, $63,800

Single-Step Income Statement Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 20Y6, are as follows: cost of merchandise sold, $345,100; administrative expenses, $42,500; interest expense, $26,000; rent revenue, $85,000; sales, $552,500; and selling expenses, $63,800. Prepare a single-step income statement. Custom Wire & Tubing Company Income Statement For the Year Ended April 30, 20Y6 Revenues: Total revenues Expenses: Total expenses