The adjusted trial balance of Patti's Party Supplies for the year ended December 31, 2020, appears below. E(Click the icon to view the adjusted trial balance.) Use this information to prepare the company's single-step income statement for the year ended December 31, 2020. Patti's Party Supplies Income Statement For the Year Ended December 31, 2020 Revenues Sales revenue Less: Sales discounts 244000 10000 8000 Sales returns and allowances Net sales revenue Cost of goods sold (18000) 226000 81000 Expenses Interest expense Operating expenses Selling expenses 2900 106300 Total expenses Net income - X ece Adjusted trial balance nel Patti's Party Supplies Adjusted Trial Balance December 31, 2020 Account Debit Credit Cash $ 5,600 Accounts receivable 19,900 25,800 440 26,500 800 Inventory Fumiture Accumulated amortization-fumiture Accounts payable Interest payable Unearned sales revenue Note payable, long-term Patti Grandy, capital Patti Grandy, withdrawals 260 810 $ 23,800 4,000 600 2,400 35,000 22,200 48,000 Sales revenue 244,000 Interest revenue Sales discounts 2,000 10,000 Sales returns and allowances Ron Print Done The adjusted trial balance of Patti's Party Supplies for the year ended December 31, 2020, appears below. E(Click the icon to view the adjusted trial balance.) Use this information to prepare the company's single-step income statement for the year ended December 31, 2020. Patti's Party Supplies Income Statement For the Year Ended December 31, 2020 Revenues Sales revenue Less: Sales discounts 244000 10000 8000 Sales returns and allowances Net sales revenue Cost of goods sold (18000) 226000 81000 Expenses Interest expense Operating expenses Selling expenses 2900 106300 Total expenses Net income - X ece Adjusted trial balance nel Patti's Party Supplies Adjusted Trial Balance December 31, 2020 Account Debit Credit Cash $ 5,600 Accounts receivable 19,900 25,800 440 26,500 800 Inventory Fumiture Accumulated amortization-fumiture Accounts payable Interest payable Unearned sales revenue Note payable, long-term Patti Grandy, capital Patti Grandy, withdrawals 260 810 $ 23,800 4,000 600 2,400 35,000 22,200 48,000 Sales revenue 244,000 Interest revenue Sales discounts 2,000 10,000 Sales returns and allowances Ron Print Done