CALCULATOR FULL SCREEN PRINTER VERSION CRACK Exercise 4-05 a-b Two accountants for the firm 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 Nash Company ($000 omitted). $5,207 4,267 60,877 17,537 Administrative expense Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rent revenue Selling expense Delivery expense Sales commissions Depreciation of sales equipment Sales revenue Income tax Interest expense 2,997 8,287 6,787 96,807 9,377 2.167 Common shares outstanding for 2020 total 28,756 (000 omitted) Prepare an income statement for the year 2020 using the multiple-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.) NASH COMPANY Income Statement (In thousands, except earnings per share) All Rights Reserved. A Division of on We Sons, Inc CALCULATOR FULL SCREEN P. Prepare an income statement for the year 2020 using the single-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.) NASH COMPANY Income Statement (In thousands, except earnings per share) Dividends Earnings Per Share Expenses Gross Profit / (Loss) Income Before Income Tax Income From Operations Net Income / (Loss) Operating Expenses Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues 27