Learning Objectives , 2. Operating Income 580,700 P5-35A Preparing a single-step income statement, preparing a multi-step income statement, and computing the gross profit percentage The records of Quality Cut Steak Company list the following selected accounts for the quarter ended April 30, 2016: Interest Revenue Merchandise Inventory Notes Payable, long-term Salaries Payable Sales Discounts Sales Returns and Allowances Sales Revenue Rent Expense (Selling) Office Supplies Uneared Revenue Interest Expense Depreciation Expense-Equipment (Administrative) Utilities Expense (Administrative) 5 500 45,300 52,000 2,400 5,500 8,500 306,000 21,400 6,300 13,200 1,700 1,300 4,300 Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Arnold, Capital Arnold, Withdrawals Cash Cost of Goods Sold Equipment Interest Payable Rent Expense (Administrative) Utilities Expense (Selling) Delivery Expense (Selling) $ 16,900 38,000 36,800 42,200 17,000 7.400 160,600 130,000 1.000 9,600 10,600 3,500 Requirements 1. Prepare a single-step income statement. 2. Prepare a multi-step income statement