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, $385,400; administrative expenses, $48,300; Interest expense, $29,000; rent revenue, $96,600; sales, $627,900; and selling expenses, 572,500. 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