The following income statements were provided by Gleeson Company, a retailer:

Required
1. Identify each income statement as either single- or multiple-step format.
2. Convert the 2009 income statement to the same format as the 2010 incomestatement.

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2010 Income Statement 2009 Income Statement Sales Cost of sales $1,700,000 Sales Cost of sales Sales salaries $1,500,000 S 450,000 398,000 175,000 54,000 40,000 20,000 Selling expense Administrative expense Total selling and admin- $ 702,000 95.000 Office supplies Depreciation-building Delivery expense Total expenses Net income istrative expense $ 797000 Net income S 363,000