Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2017 information related to Tamarisk Company ($000 omitted). Administrative expense $5,593 Officers' salaries 4,653 Depreciation of office furniture and equipment 61,263 Cost of goods sold Rent revenue 17,923 Selling expense Delivery expense 3,383 8,673 Sales commissions 7,173 Depreciation of sales equipment 97,193 Sales revenue Income tax 9,763 2,553 Interest expense Common shares outstanding for 2017 total 40,550 (000 omitted)