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 $2025$ information related to Blossom Company $($ $$000$ omitted$).$

Administrative expense

Officers' salaries

Depreciation of office furniture and equipment

Cost of goods sold

Rent revenue

Selling expense

Delivery expense

Sales commissions

Depreciation of sales equipment

Sales revenue

Income tax

Interest expense

$$5,488$

$4,548$

$61,158$

$17,818$

$3,278$

$8,568$

$7,068$

$97,088$

$9,658$

$2,448$