Single-Step Income Statement Summary operating data for Custom Wire & Tobing Company during the year ended April 30, 2018, are as follows: cost of goods sold, $294,500; administrative expenses, $36,900; Interest expense, $22,000; rent revenue, 573,800, sales, $479,700; and selling expenses, $55.400 Prepare a single-step income statement. Custom Wire & Tubing Company Income Statement For the Year Ended April 30, 2018 Revenues: Sales Rent revenue Total revenues Expenses Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Net income