This week focused on the income statements, which are another part of a financial report.  In this week’s Discussion, refer back to the financial report that you have used in Discussions each week so far.  Locate the income statement.  What information does it provide?  Is it useful? 

Required:

Post at least 200 words addressing the following points:

• Identify the type of income statement: Is it a single-step or multiple-step income statement?
• Are there any extraordinary items or discontinued operations on the income statement?
• If your statement is a single-step income statement, refer now to a multiple-step income statement in your text.

Read a selection of your colleagues’ postings.