Income Statement The following information is available for Wright Auto Supply at December 31. Line Item Description Amount Line Item Description Amount Cost of goods sold $223,600 Rent expense $21,000 Depreciation expense 31,250 Salaries (administrative) 33,800 Income taxes expense 32,520 Sales revenue 500,800 Interest expense 2,400 Wages expense (salespeople) 79,800 Required: Question Content Area 1. Prepare a single-step income statement for the year ended December 31. Wright Auto Supply Income Statement For the year ending December 31 Revenues: $- Select - Expenses: $- Select - - Select - - Select - - Select - - Select - - Select - - Select - Total expenses fill in the blank b87c07f4bf87fa8_17 $- Select - Question Content Area 2. Prepare a multiple-step income statement for the year ended December 31. Wright Auto Supply Income Statement For the year ending December 31 $- Select - - Select - $- Select - Operating expenses: $- Select - - Select - - Select - - Select - Total operating expenses fill in the blank 48d67101a07efbc_15 $- Select - Other expenses and losses: - Select - $- Select - - Select - $- Select