Can I please have help with the following problem.
Bee Spears Clothing Stores reported sales of $250,000 cost of goods sold of $150,000, operating expenses of $25,000, income tax expense rate of 30% in calendar year 2006, and an unrealized loss from marketable securities (available-for-sale) of $20,000.
1. Prepare a statement of comprehensive income using a single income statement format.
2. Prepare a statement of comprehensive income using a two-income statement format.
I do not know what the difference between a single income and a two-income statement format is.
2 answers