The following information is available for Shamrock, Inc. for the year 2017.

Administrative expense

Officers' salaries$10,800

Depreciation of office furniture and equipment8,500

Cost of goods sold121,460

Rent revenue2,200

Selling expense

Delivery expense5,800

Sales commissions16,960

Depreciation of sales equipment14,300

Sales revenue205,000

Income tax12,570

Interest expense3,680

Common shares outstanding for 2017 total25,000(000 omitted).

Prepare income statement for Shamrock Inc. for the year 2017 using the multiple-step and single step form