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Income statement: It is a statement of financial records of the company’s monetary performance during the bookkeeping period. The financial data presented briefly in the statements are considered to assess the monetary presentation of the business and its profits and expenditures through functional and non-operating activities.
(a)
To prepare: To prepare a multiple-step income statement and a retained earnings statement.
(b)
To prepare: To prepare a single-step income statement and a retained earnings statement.
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Intermediate Accounting 16E Binder Ready Version With Wiley Plus Blackboard
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