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Quality Office Systems uses a perpetual inventory system. The adjusted trial balance of Quality Office Systems at March 31, 2016, follows: (Click the icon to view the adjusted trial balance.) Prepare Quality Office's single-step income statement for the year ended March 31, 2016. Data Table Quality Office Systems Income Statement Year Ended March 31, 2016 Revenues: Net Sales Revenue Expenses: Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total Expenses Quality Office Systems Adjusted Trial Balance March 31, 2016 , Balance Debit Credit Account Title Cash $ 2,700 12,800 31,800 6,600 Net Income (Loss) 42,400 $ 13,900 8,900 800 7,700 Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Notes Payable, long-term Brady, Capital Brady, Withdrawals Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Selling Expense Administrative Expense Interest Expense 13,000 44,500 238,000 1,200 1,300 95,200 27.100 14,100 2,600 282,300 $ $ Total 282,300 Print Done