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 Carla Company ($000 omitted).

Administrative expense
Officers' salaries		$5,401
Depreciation of office furniture and equipment		4,461
Cost of goods sold		61,071
Rent revenue		17,731
Selling expense
Delivery expense		3,191
Sales commissions		8,481
Depreciation of sales equipment		6,981
Sales revenue		97,001
Income tax		9,571
Interest expense		2,361

Common shares outstanding for 2017 total 40,550 (000 omitted).

Prepare an income statement for the year 2017 using the multiple-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.)

Prepare an income statement for the year 2017 using the single-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.)