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Slide38 - Multiple-Step Income Statements — Nonoperating...

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Unformatted text preview: Multiple-Step Income Statements — Nonoperating revenues and expenses Revenues and expenses not directly related to the mainstream of a firm's operation — Other (nonoperating) revenue and expenses - Revenues and expenses that are not part of the ordinary operations of selling goods or services; i.e., interest revenue and interest expense - Income taxes appear in both income statement formats - The next slide presents a multiple-step income statement for Chan Audio Company ...
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