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 Stellar Company ($000 omitted) Administrative expense $5,587 4,647 61,257 17,917 Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rent revenue Selling expense Delivery expense 3,377 8,667 7,167 97,187 9,757 2,547 Sales commissions Depreciation of sales equipment Sales revenue Income tax Interest expense 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.) STELLAR COMPANY Income Statement For the Year Ended December 31, 2017 + (In thousands, except earnings per share) 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.) STELLAR COMPANY (In thousands, except earnings per share)