Single-Step Income Statement Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 2016, are as follows: cost of merchandise sold, $432,700; administrative expenses, $52,900; interest expense, $32,000; rent revenue, $105,800; sales, $687,700; and selling expenses, $79,400. Prepare a single-step income statement. Revenues: Sales Custom Wire & Tubing Company Income Statement For the Year Ended April 30, 2016 Rent revenue Total revenues Expenses: Cost of merchandise sold Selling expenses Administrative expense Interest expense Total expenses Net income 00