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 Sunland Company ($000 omitted). Administrative expense Officers' salaries $5,006 Depreciation of office furniture and equipment 4,066 Cost of goods sold 60,676 Rent revenue 17,336 Selling expense Delivery expense 2,796 Sales commissions 8,086 Depreciation of sales equipment 6,586 Sales revenue 96,606 Income tax 9,176 Interest expense 1,966 Common shares outstanding for 2017 total 40,550 (000 omitted). Collapse question part (a) Prepare an income statement for the year 2017 using the multiple-step form.