The adjusted trial balance of Brigus Wholesale Ltd. contained the following accounts at November 30, the company's fiscal year end:

Instructions
(a) Prepare a single-step income statement.
(b) Prepare a multiple-step income statement.
(c) Compare the two statements and comment on the usefulness of each one.
(d) Are the expenses in the statements classified by nature or by function? Explain.

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BRIGUS WHOLESALE LTD Adjusted Trial Balance November 30, 2015 Debit $50,200 Credit Accounts receivable Notes receivable Merchandise inventory Supplies 71,400 120,000 204,000 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Accounts payable Income tax payable Unearned revenue Mortgage payable Common shares Retained earnings S 34,000 48,000 97,000 31,000 6,000 102,000 60,000 180,000 1,700,600 Sales returns and allowances Sales discounts Cost of goods sold Administrative expenses Selling expenses Interest expense Interest revenue Income tax expense 8,400 7,500 1,095,000 341,340 86,200 7,400 3,240 31,000 $2,216,840 $2,261,840