SINGLE-STEP INCOME STATEMENT

Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 2016, are as follows: cost of merchandise sold, $6,100,000; administrative expenses, $740,000; interest expense, $25,000; rent revenue, $60,000; sales, $9,332,500; and selling expenses, $1,250,000.

Prepare a single-step income statement. Refer to the lists of Labels, Accounts, and Amount Descriptions provided for the exact wording of the answer choices for text entries.

CUSTOM WIRE & TUBING COMPANY

Income Statement

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