Preparation of the single-step and multiple-step income

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Reference no: EM13356163

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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