Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple versu a single-step format. The discussion involves the following 2025 information related to Concord Company (\$000 omitte Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Sales Commission $8,428 Depreciation Expense 6,928 Delivery Expense ,138 Total Selling Expenses Administrative Expenses Officers' Salaries Depreciation Expense 4,408 Total Administrative Expenses ^ Total Administrative Expenses 9756 Income from Operations Other Revenues and Gains Rent Revenue Other Expenses and Losses Interest Expense Income before Income Tax Income Tax Net Income / (Loss) Earnings per Share 17,678 9,518 $ $