The adjusted trial balance of Ayayai Wholesale Inc. contained the following accounts at December 31, the...

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The adjusted trial balance of Ayayai Wholesale Inc. contained the following accounts at December 31, the company's year end: AYAYAI WHOLESALE INC. Adjusted Trial Balance December 31, 2024 Debit Credit Cash $14,820 Accounts receivable 23,560 Prepaid insurance 2,920 Estimated inventory returns 3,700 Inventory 121,780 Supplies 7,740 Land 154,200 Buildings 262,800 Accumulated depreciation-buildings $111,650 Equipment 114,600 Accumulated depreciation-equipment 40,120 Accounts payable 67,360 Deferred revenue 11,520 Refund liability 5,560 Income tax payable 4,200 Bank loan payable 117,760 Common shares 61,710 Retained earnings 169,150 Sales 1,273,700 Cost of goods sold 967,390 Administrative expenses 106,210 Selling expenses 50,480 Interest expense 14,880 Interest income 2,910 Income tax expense 20,560 $1,865,640 $1,865,640 Prepare a single-step statement of income. AYAYAI WHOLESALE INC. Statement of Income (Single-Step) $ $ The adjusted trial balance of Ayayai Wholesale Inc. contained the following accounts at December 31, the company's year end: AYAYAI WHOLESALE INC. Adjusted Trial Balance December 31, 2024 Debit Credit Cash $14,820 Accounts receivable 23,560 Prepaid insurance 2,920 Estimated inventory returns 3,700 Inventory 121,780 Supplies 7,740 Land 154,200 Buildings 262,800 Accumulated depreciation-buildings $111,650 Equipment 114,600 Accumulated depreciation-equipment 40,120 Accounts payable 67,360 Deferred revenue 11,520 Refund liability 5,560 Income tax payable 4,200 Bank loan payable 117,760 Common shares 61,710 Retained earnings 169,150 Sales 1,273,700 Cost of goods sold 967,390 Administrative expenses 106,210 Selling expenses 50,480 Interest expense 14,880 Interest income 2,910 Income tax expense 20,560 $1,865,640 $1,865,640 Prepare a single-step statement of income. AYAYAI WHOLESALE INC. Statement of Income (Single-Step) $ $