The following account balances are taken from Ballistik Ltd$.\text{'}$s adjusted trial balance at Janua$31,2020$:

$\backslash$table$[[,$Debit,Credit$],[$Sales revenue,$$175,000,],[$Wages expense,$3,275,000,],[$Cost of goods sold,$66,000,],[\backslash$table$[[$General and$],[$administrative expenses$]],105,000,],[$Utilities expenses,$95,000,],[$Depreciation expense,$33,000,],[$Interest expense,,$50,000],[$Interest revenue,$150,700,],[$Income tax expense,$125,000,],[$Advertising expense,$196,000,],[$Selling expenses,,$]]$

Required

a$.$ Prepare a single$-$step statement of income for the year ended January $31,2020.$

b$.$ Prepare a multi$-$step statement of income for the year ended January $31,2020.$

c$.$ Compare the two statements and comment on the usefulness of each one.