The accountant of Novak Shoe Co. has compiled the following information from the companys records as a basis for an income statement for the year ended December 31, 2020.

Rent revenue		$32,400
Interest expense		21,400
Market appreciation on land above cost		34,400
Salaries and wages expense (selling)		118,200
Supplies expense (selling)		21,000
Income tax		26,500
Salaries and wages expense (administrative)		139,300
Other administrative expenses		55,100
Cost of goods sold		499,400
Net sales		983,400
Depreciation on plant assets (70% selling, 30% administrative)		68,400
Cash dividends declared		19,400

There were 20,000 shares of common stock outstanding during the year.

A) Prepare a multi step income statement.

B) Prepare a single step income statement