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 soid, $475,700; administrative expenses, $58,300; interest expense, $35,000; rent revenue, $116,600; sales, $757,900; and selling expenses, $87,500. Prepare a single-step income statement. Custom Wire & Tubing Company Income Statement For the Year Ended April 30, 2016 Revenues Total revenues Expenses Total expenses