Two accountants, Yuan Tsui and Sergio Aragon, are arguing about the merits of presenting an income statement in the multiple-step versus the single-step format. The discussion involves the following 2017 information for P. Bride Company (in thousands):

Common shares outstanding for 2017 total 30,550 . Income tax for the year was $9,070.
Instructions
(a) Prepare an income statement for the year ended December 31, 2017, using the multiple-step format. Include calculation of EPS.
(b) Prepare an income statement for the year ended December 31, 2017, using the single-step format. Include calculation of EPS.
(c ) From the perspective of an investor who is interested in information about operating versus non- operating items and the various areas of the company's operations, which format is preferred. Explain why?

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Administrative expenses Selling expenses Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rental Revenue 4,900 Delivery 3,960 Sales Commissions 0,570 Depreciation of sales equipment S2,690 7,980 6,480 96,500 1,860 17,230 Sales revenue Interest expense