Preparation of the single-step and multiple-step income

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Preparation of the single-step and multiple-step income statement

The following data were taken from the records of Motion Data Inc at December 31, 20D

Sales Revenue

  $120,000

Administration expense 

10,000

Selling expense

18,000

Income tax rate 

25%

Gross margin (profit ratio)   

40%

Shares outstanding    

2,000

1. Prepare a complete single-step income statement for the company (including pretax income, and earnings per share)

2. Prepare a complete multiple-step income statement for the company (including gross margin, pretax income, and earnings per share)

Reference no: EM13356163

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