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 2020 information related to Bonita Company ($000 omitted).

Administrative expense
Officers' salaries		$5,552
Depreciation of office furniture and equipment		4,612
Cost of goods sold		61,222
Rent revenue		17,882
Selling expense
Delivery expense		3,342
Sales commissions		8,632
Depreciation of sales equipment		7,132
Sales revenue		97,152
Income tax		9,722
Interest expense		2,512

Common shares outstanding for 2020 total 30,770 (000 omitted).

Prepare an income statement for the year 2020 using the single-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.)