Single-Step Income Statement

Summary operating data for Cummerbund Company during the current year ended June 30, 2014, are as follows: cost of merchandise sold, $2,400,000; administrative expenses, $420,000; interest expense, $30,000; rent revenue, $125,000; net sales, $3,750,000; and selling expenses, $550,000.

Prepare a single-step income statement.

Cummerbund Company
Income Statement
For the Year Ended June 30, 2014
Revenues:
				$
Total revenues				$
Expenses:
		$
Total expenses
				$