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. Revenues: Everything Wholesale, Inc. Income Statement For the Year Ended August 31, 2018 Net income (loss) Requirement 2. Would you recommend the use of the single-step income statement format by a merchandiser? Why?