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 Teal Company ($000 omitted).

Administrative expense
Officers' salaries		$5,211
Depreciation of office furniture and equipment		4,271
Cost of goods sold		60,881
Rent revenue		17,541
Selling expense
Delivery expense		3,001
Sales commissions		8,291
Depreciation of sales equipment		6,791
Sales revenue		96,811
Income tax		9,381
Interest expense		2,17

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

Prepare an income statement for the year 2017 using the multiple-step form.

use these options please.

2- Prepare an income statement for the year 2017 using the single-step form

use these options please.

TEAL COMPANY Inoome Statement For the Year Ended December 31, 2017 In thousands, except earnings per share) Sales Revenue 96811 Cost of Goods Sold 35930 Gross Profit/ (Loss) Operating Expenses Selling Expenses Delivery Expense 3,001 8,291 6,791 Total Selling Expenses 18083 Administrative Expenses 5,211