Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business under separate head. In different steps of the multi-step income statement, principal operating activities are reported from recording of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts. Comprehensive Income Statement: Comprehensive income statement refers to the multi-step income statement that records the gains, and losses from operating activities, and the non-operating activities of the business. To Prepare: The multi-step income statement of Corporation B for the year ended December 31, 2017. The comprehensive income statement of Corporation B for the year ended December 31, 2017.

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Chapter 5, Problem 5.4DIE

To determine

Multi step income statement: A multiple step income statement refers to the income statement that shows the operating, and non-operating activities of the business under separate head. In different steps of the multi-step income statement, principal operating activities are reported from recording of sales revenue with all contra sales revenue account like sales returns, allowances and sales discounts.

Comprehensive Income Statement: Comprehensive income statement refers to the multi-step income statement that records the gains, and losses from operating activities, and the non-operating activities of the business.

To Prepare: The multi-step income statement of Corporation B for the year ended December 31, 2017.

The comprehensive income statement of Corporation B for the year ended December 31, 2017.

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