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 2014 information related to P. Bride Company ($000 omitted). Administrative expense $5,230 4,290 60,900 17,560 Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rent revenue Selling expense 3,020 8,310 6,810 96,830 9,400 2,190 Delivery expense Sales commissions Depreciation of sales equipment Sales revenue Income tax Interest expense Common shares outstanding for 2014 total 39,890 (000 omitted)