Demonstrate how to prepare a multi-step income statement by ranking the items below in the order they would appear on a multi-step income statement of a merchandiser.
1. Gross profit
2. Costs of good sold
3. Other revenues and expenses
4. Income from operations
5. Sales
6. Operating expenses

An association's fiscal summary in construction that presents incomes, expenses, and costs for a specific detailing period is known as a multi-step pay proclamation. It utilizes various formulae to work out an organization's overall gain and offers a more exhaustive depiction of costs than a solitary step pay proclamation. A multi-step pay proclamation is a pay explanation that isolates complete income and costs into working and non-working heads. It offers a top to bottom examination of the business's monetary presentation in a particular detailed period.

The amount of gross profit is the first subtotal. The amount of working pay makes up the subsequent subtotal.

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Demonstrate how to prepare a multi-step income statement by ranking the items below in the order they would appear on a multi-step income statement of a merchandiser. 1. Gross profit 2. Costs of good sold 3. Other revenues and expenses 4. Income from operations 5. Sales 6. Operating expenses

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Demonstrate how to prepare a multi-step income statement by ranking the items below in the order they would appear on a multi-step income statement of a merchandiser.
1. Gross profit
2. Costs of good sold
3. Other revenues and expenses
4. Income from operations
5. Sales
6. Operating expenses