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    johnfletcherII's Avatar
    johnfletcherII Posts: 2, Reputation: 1
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    #1

    Mar 30, 2009, 09:52 PM
    Single-step income statement
    I am confused on the set-up with the amount of information provided. There is not enough to go on. What do I do?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Apr 2, 2009, 04:15 PM

    A single-step Income Statement will only have total sales or revenues minus total expenses to = Net Income. The acocunts are not listed invidually as in a multi-step Income Statement.
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