The account balances for

Spark's Electrical SupplySpark's Electrical Supply,

Inc., for the year ended

AugustAugust

31,

20182018,

are presented next in random order:

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(Click the icon to view the account balances.)

Requirements

1.	Prepare Spark's Electrical SupplySpark's Electrical Supply, Inc.'s single-step income statement.
2.	Would you recommend the use of the single-step income statement format by a merchandiser? Why?

The account balances for Spark's Electrical Supply, 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 Spark's Electrical Supply, 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 Spark's Electrical Supply, Inc.'s single-step income statement. Spark's Electrical Supply, Inc. Income Statement For the Year Ended August 31, 2018 Revenues: Data Table $ $ 123,700 13,700 2,350 271,600 5,100 Cash Equipment Accounts payable Common stock Long-term notes payable General expenses Salaries payable Supplies Building Estimated refund liability Prepaid rent Interest expense 6,450 Cost of goods sold 48,800 Accumulated depreciation, 5,800 equipment 35,000 Unearned revenues 10,000 Sales revenue.. 24,500 Accounts receivable 1,450 Accumulated depreciation, 950 building 135,000 Mortgage payable (long-term) 2,300 Dividends ... 1,750 Estimated inventory returns 750 Selling expenses 38,000 25,900 45,000 1,500 37,000 Print Done