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 Oriole Company ($000 omitted). Administrative expense $5,592 Officers' salaries Depreciation of office furniture and equipment 4,652 Cost of goods sold 61,262 Rent revenue 17,922 Selling expense Delivery expense 3,382 Sales commissions 8,672 Depreciation of sales equipment 7,172 97,192 Sales revenue Income tax 9,762 Interest expense 2,552 Common shares outstanding for 2020 total 30,170 (000 omitted). Prepare an income statement for the year 2020 using the multiple-step form. (Round earnings per share to 2 decimal places, eg. 148.) ORIOLE COMPANY Income Statement (In thousands, except earnings per share) $