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 Splish 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 2,171