Transcribed image text: Comparability and Consistency in Income Statements The following income statements were provided by Chisholm Company, a wholesale food d 2017 2016 Sales $1,760,000 $1,560,000 Cost of sales Sales salaries Delivery expense Office supplies $642,400 $466,440 432,960 416,520 186,560 182,520 $56,320 $54,600 42,120 42,120 24,640 18,720 $1,385,000 $1,180,920 $375,000 $379,080 Depreciation - truck Computer line expense Total expenses Net income Required: 1. Identify each income statement as either single- or multiple-step format. 2017 income statement Single-step 2016 income statement Single-step 2. Restate each item in the income statements as a percentage of sales. Round your ans 2017 2016 Sales X % X % Computer line expense "ZIZU 24,640 ZU 18,720 Total expenses $1.385,000 $1.180,920 Net income $375,000 $379,080 Required: 1. Identify each income statement as either single-or multiple-step format. 2017 income statement Single step 2016 income statement Single-step 2. Restate each item in the income statements as a percentage of sales. Round your answers to one decimal place when necessary. Enter all amounts as positive numbers 2017 2016 Sales Cost of sales X Sales salaries X Delivery expense X Office supplies X Depreciation--truck X X Computer line expense Total expenses X Net income