Answer:
March 31, 2018 Multi Step - Income Statement
$ 6.243,700 Sales
$ 6.243,700 Net Sales Revenues
-$ 3.884,500 Cost of goods sold
-$ 3.884,500 Cost of goods sold
$ 2.359,200 Gross PROFIT
-$ 733,950 Selling expenses
-$ 733,950 Operating Expenses
$ 1.625,250 INCOME FROM OPERATIONS
$ 0,000 Other Revenues and Gains:
-$ 9,500 Interest Expenses
-$ 9,500 Other expenses and Loss
$ 1.615,750 NET INCOME AFTER TAXES
$ 0,000 Income Tax Expenses
$ 1.615,750 Net INCOME
Explanation:
In the Multistep income it's possible to segregate the operative expenses and revenues of the non operative, it also shows the gross profit, which is
the Net Sales Revenues less the Cost of Goods Sold.
First it's shown the Gross Profit, then substracted the operating expenses
to arrive at operating income.
Finally with the non operating movements we have the net Income After Taxes and with the taxes expenses we have the Net Income of the company.
By the way in the Single Step Income doesn't exist a segregation in the expenses,
it doesn't break the expenses into cateogories, so all the expenses are listed together.
It means the financial statement doesn't give much information to the external users about the company operations.
