The accountant of Cheyenne Shoe Co. has compiled the following information from the companys records as a basis for an income statement for the year ended December 31, 2017.

Rent revenue		$31,800
Interest expense		20,800
Market appreciation on land above cost		33,800
Salaries and wages expense (selling)		117,600
Supplies expense (selling)		20,400
Income tax		40,200
Salaries and wages expense (administrative)		138,700
Other administrative expenses		54,500
Cost of goods sold		498,800
Net sales		982,800
Depreciation on plant assets (70% selling, 30% administrative)		67,800
Cash dividends declared		18,800

There were 20,070 shares of common stock outstanding during the year.

a)Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.) b)Prepare a single-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.)