The adjusted trial balance of Bennett Company contained the following information: Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Freight-Out Advertising Expense Interest Expense Salaries and Wages Expense Utilities Expense Depreciation Expense Interest Revenue Instructions Debit $ 12,000 7,000 318,000 Credit $530,000 2,000 15,000 13,000 90,000 23,000 12,000 37,000 1. Use the above information to prepare a multiple-step income statement for the year ended December 31, 2016. 2. Prepare a single-step income statement for the year ended December 31, 2016.