Answer:
MULTI-STEP
Sales Revenue 96,948.00
Sales commissions <u>(8,428.00)</u>
Net Sales 88,520.00
COGS <u>(61,018.00)</u>
Gross Profit 27,502.00
Depreciation (11,336.00)
Delivery Expense (3,138.00)
Salaries expense (5,348.00)
<u>Operating Income 7,680.00 </u>
Rent revenue 17,678.00
Interest expense (2,308.00)
<u>Non-Operating 15,370.00 </u>
Earning Before Taxes 23,050.00
Income Tax (9,518.00)
Net Income 13,532.00
Shares 40,550
EPS 0.33
ONE-STEP
Sales Revenue 96,948.00
Sales commissiones<u> (8,428.00) </u>
Net Sales 88,520.00
COGS <u> (61,018.00) </u>
Gross Profit 27,502.00
Rent Revenue 17,678.00
Depreciation (11,336.00)
Delivery Expense (3,138.00)
Salaries expense (5,348.00)
Interest expense <u> (2,308.00) </u>
EBT 23,050.00
Income Tax <u> (9,518.00) </u>
Net Income 13,532.00
Explanation:
The multi-steps calcualte the operating income and the non-operating income (from other activities and interest which aren't directly linked to the main activity of the company) While the one step just calcualte directly through earnings before taxes after solving gross profit.
