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Unformatted text preview: Other Revenues and Gains Rental revenue 29,000 Dividend Revenue 16,000 45000 54000 Other Expenses and Losses Interst on notes payable 18,000 36,000 Income before income tax Income tax 37400 Net Income for the Year-1400 Earnings Per Common Share The single-step income statement is much easier to prepare. All the required information is available for a decisio atements Whitney Houston Shoe Co. Single step Income Statement e Year Ended December 31, 2004 980000 496000 484000 177900 es 207100 385000 ns 99000 ins 45000 44000 osses 18000 36000 37400 ar-1400 on maker. The multi-step is more detailed, but it requires the preparer to be more detailed....
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