Reference no: EM131532912
Question: Income statement information for adidas Group, a German footwear, apparel, and accessories manufacturer, for the year ended December 31, 2009, follows. The company applies IFRS, as adopted by the European Union, and reports its results in millions of Euros. Prepare its calendar year 2000
(1) multiple-step income statement and
(2) single-step income statement.
Net income . . . . . . . . . . . . . . . . . . . . . . . . . € 245
Financial income . . . . . . . . . . . . . . . . . . . . . 19
Financial expenses . . . . . . . . . . . . . . . . . . . . 169
Operating profit . . . . . . . . . . . . . . . . . . . . . 508
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . 5,669
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . 113
Income before taxes . . . . . . . . . . . . . . . . . . 358
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . 4,712
Royalty and commission income . . . . . . . . 86
Other operating income . . . . . . . . . . . . . . . 100
Other operating expenses . . . . . . . . . . . . . 4,390
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,381
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