The adjusted trial balance of Business Reduction Systems at March 31, 2016, follows:

Prepare Business Reduction€™s single-step income statement for the year ended March 31, 2016.

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BUSINESS REDUCTION SYSTEMS Adjusted Trial Balance March 31, 2016 Balance Debit Credit Account Title Cash Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total 4,100 13,800 31,300 6,100 42,200 $ 13,100 9,000 500 8,000 14,000 100 40,000 234,000 1,500 1,900 93,600 27,600 14,600 2,000 $ 278,700 S 278,700