Corporate financial statements

You and some friends have decided to start an investment club. Several of the new members of the club, however, have no knowledge of financial statements, particularly the income statement. They understand that a company must “make money,” but they get confused when they read a multi-step income statement.

Prepare a short memo for current and future members that describe the subtotals of income on a multi-step income statement. Be sure to provide examples of both a simple and a multi-step income statement.

Use appropriate memo formatting and APA citation/reference format where appropriate.

please use the material from Chapter 2 from the ACCT textbook for assistance and reference.(2nd Ed
By: Norman Godwin, James Alderman)