Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statem versus a single$-$step format. The discussion involves the folliowing $2025$ information related to Splish Company

Administrative expense

Othcers'salaries

Depreciation of office furniture and equipment

Cost of goods sold

Rent revernue

Selling expense

Delivery expense

Sales commissions

Depreciation of sales equipment

Sales revenue

Income tax

Interest expense

$$5\mathrm{.}211$

$4\mathrm{.}271$

$60\mathrm{.}8\%1$

$17\mathrm{.}541$

$3\mathrm{.}001$

$8,291$

$6\mathrm{.}791$

$96,811$

$9,381$

$2\mathrm{.}171$