Two accountants for the form 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 Tamarisk Company ($000 omitted). Administrative expense Officers' salaries $5,168 4,228 Depreciation of office furniture and equipment Cost of goods sold 60,838 Rent revenue 17,498 Selling expense Delivery expense 2,958 Sales commissions 8,248 Depreciation of sales equipment 6,748 Sales revenue 96,768 Income tax 9,338 Interest expense 2,128 Common shares outstanding for 2020 total 29,224 000 omitted). Prepare an income statement for the year 2020 using the single-step form. (Round earnings per share to 2 decimal places, eg. 1.48.) TAMARISK COMPANY Income Statement (In thousands, except earnings per share) $ LA LA $