10 Jun WHAT TYPE OF BUSINESS USES A MULTI-STEP INCOME STATEMENT?
Net Revenue: $3,538
Cost of goods sold:$2,103
Gross Margiin
Selling & Administration Expenses: $1,090
Interest Income: $568
Interest expense: $197
Earnings before income taxes
Income Taxes: $133
Net Earnings
Earnings per share: $1.86
Shares used in calulating E.P.S
1)What principle requires corporations to divulge their revenue recognition policy?
2)What is the amount of EBT?
3)What type of business uses a multi-step income statement? Why?
4)How many shares were used to calculate E.P.S.?
5)What is the amount of Net Earnings?
6)List 3 examples of selling and administrative expenses
7)What is the amount of Gross Margin?
8)What is the Gross Margin Percent?
9)Is this a single-step or multi-step income statement? How do you know?
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