Reference no: EM13905732

Income statement information for adidas Group, a German footwear, apparel, and accessories manufacturer, for the year ended December 31, 2011, follows. The company applies IFRS, as adopted by the European Union, and reports its results in millions of Euros. Prepare its calendar year 2011 (1) Multiple step income statement (2) Single step income statement.

Net income . . . . . . . . . . . . . . . . . . . . . . . . . 670
Financial income . . . . . . . . . . . . . . . . . . . . . 31
Financial expenses . . . . . . . . . . . . . . . . . . . 115
Operating profit . . . . . . . . . . . . . . . . . . . . . 1,011
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . 7,000
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . 257
Income before taxes . . . . . . . . . . . . . . . . . . 927
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . 6,344
Royalty and commission income . . . . . . . . 93
Other operating income . . . . . . . . . . . . . . . 98
Other operating expenses . . . . . . . . . . . . . 5,524
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . 13,344