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Prepare the multiple-step income statement for the company

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Problem -

Income statement information for adidas Group, a German footwear, apparel, and accessories manufacturer, for the year ended December 31, 2013, follows. The company applies IFRS, as adopted by the European Union, and reports its results in millions of euros.

Net income € 790    Financial income   26    Financial expenses   94    Operating profit   1,202    Cost of sales   7,352    Income taxes   344    Income before taxes   1,134    Gross profit   7,140    Royalty and commission income   104    Other operating income   143    Other operating expenses   6,185    Net sales   14,492       

1. Prepare the multiple-step income statement for the company for the year ended December 31, 2013.

2. Prepare the single-step income statement for the company for the year ended December 31, 2013.

Reference no: EM131561561

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