The accounting records of Marlons Marvels, a retail store, show the following balances for the fiscal year ending June 30, 2020:

Store sales revenue	$4,420,000	Salaries expense	$800,000
Marketing expense	124,900	Depreciation expense	62,500
Interest expense	20,350	Cost of goods sold	2,652,000
Loss on sale of investment	12,000	Rent and utilities expense	110,000
Other administrative expenses	108,000	Dividend income	2,000

When the multiple-step and single-step income statements for Marlons Marvels are compared, net income ________________.

Select one:

a. Would be lower by ($30,350) on the multi-step statement

b. Would be lower by ($12,000) on the multiple-step statement

c. Would be higher (by $2,000) on the multiple-step statement

d. Would be the same (in dollars) on both statements

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