The account balances for Everything Wholesale, Inc. for the year ended August 31, 2018, are presented next in random order (Click the icon to view the account balances.) Requirements 1. Prepare Everything Wholesale, Inc.'s single-step income statement 2. Would you recommend the use of the single-step income statement format by a merchandiser? Why? Requirement 1. Prepare Everything Wholesale, Inc.'s single-step income statement Everything Wholesale, Inc. Income Statement For the Year Ended August 31, 2018 Data table Revenues: Cash $ 4,700 Cost of goods sold $ 125.300 Equipment 32.000 Accumulated depreciation Accounts payable 3,700 equipment 6,100 Common stock 55,000 Uneamed revenues 3,500 Long-term notes payable 55,000 Sales revenue 234,500 General expenses 22,000 Accounts receivable. 5,800 Salaries payable 2,100 Accumulated depreciation Supplies 1,900 building 20.500 Building 138,000 Mortgage payable (long-term) 20,000 Net income (loss) Estimated refund liability 4,300 Dividends 58,000 Prepaid rent... 2.600 Estimated inventory retums 2.500 Interest expense 800 Selling expenses 27.800 Help me solve this Demodocs example Get more he Retained earnings 15.400 Inventory 3,100 The account balances for Nancy Sa Click the loon to view the acco Nel Data Table the year amounted Read the requirement Data table Cash. Equipment $ 3,200 Cost of goods sold 15.900 Accumulated depreciation Accounts payable Before we prepare the balance shee retained eamings Beginning retained earnings Common stock O Points: 0 of 1 Save 130,000 11,100 3,300 mounts to calculate ending 247,000 4,500 7,200 equipment 45.000 Uneamed revenues Long-term notes payable. 5,000 Sales revenue General expenses 25,000 Accounts receivable Salaries payable Supplies 3,100 Accumulated depreciation 3,500 building 39.000 Building 130,000 Mortgage payable (long-term) 20,500 Estimated refund liability 4.100 Dividends 46,000 Prepaid rent. 800 Estimated inventory returns 1,000 Interest expense 900 Selling expenses 26,800 Retained eamings 7,400 Inventory... 3,400 Print Done