The account balances to Wholesome Food, tre, for the year ended Aug 31, 2016, are presented entrandom order em the con to view the accountances) Requirements Prepare Wholesome Food, Inc.'s nestepincome statement 2 Would you recommend the use of the single tap income statement format by a merchandiser? Why? Wholesome Food, Inc. Income Statement For the Year Ended August 31, 2018 Revenues Net Income osa) Requirement 2. Would you recommend the use of the single-step come statement format by a merchandiser? Why The single-step income statement for Wholesome Food as a merchandise. A merchandiser should use a Choose from any ist or enter any number in the input fields and then continue to the next question Save for Later income statement to provide more detailed information to the transmeton Data Table ICCO Clich Cash $ 128,700 airer "repa Voul 13,600 Cost of goods sold 46,500 Accumulated depreciation, 14,500 . . . 2,400 247,000 --- -- ... 4,900 Equipment Accounts payable Common stock Long-term notes payable General expenses Salaries payable Supplies Building Estimated refund liability Prepaid rent Interest expense Retained earnings 6,300 equipment 15,000 Unearned revenues 30,000 Sales revenue 18,200 Accounts receivable 3,500 Accumulated depreciation, 3,300 building 155,000 Mortgage payable (long-term) 3,900 Dividends enue --- 41,500 20,500 75,000 2,300 800 Estimated inventory returns 950 Selling expenses ------ 27,800 3,100 95,550 Inventory Print Done t incor T? Why? quirement 2. Would you recommend the use of the single-step income statement format by a merchar