A company has the following data: net sales, $405,000; cost of goods sold, $220,000; selling…

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A company has the following data: net sales, $405,000; cost of goods sold, $220,000; selling expenses, $90,000; general and administrative expenses, $60,000; interest expense, $4,000; interest income, $3,000; and income tax expense, $2,500.

1. Prepare a single-step income statement.

2. Prepare a multistep income statement.

A company has the following data net sales 405 000 cost

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