The following amounts appeared on Davison Companys adjusted trial balance as of October 31, 2023, the end of its fiscal year:

	Debit			Credit
Merchandise inventory	$	16,000
Other assets		256,800
Liabilities				$	78,400
Brenda Davison, capital					203,280
Brenda Davison, withdrawals		65,000
Interest income					1,120
Sales					424,000
Sales discounts		6,500
Sales returns and allowances		28,000
Cost of goods sold		169,300
Sales salaries expense		52,000
Rent expense, selling space		19,000
Store supplies expense		5,000
Advertising expense		29,400
Office salaries expense		53,000
Rent expense, office space		5,200
Office supplies expense		1,600
Totals	$	706,800		$	706,800

Required: 1. Prepare a classified multiple-step income statement for internal use.

2. Present a condensed single-step income statement.