a variation of both? Explain
Solution
Dell company uses a \'Multiple Step Income Statement\'. A multiple step income
statement separates the operating revenues and operating expenses from the nonoperating
revenues, nonoperating expenses, gains, and losses. The multiple-step income statement also
shows the gross margin or gross profit (net sales minus the cost of goods sold) and operating
income. This is evident in the income statement of Dell where they show net revenue, cost of net
revenue, gross margin, operating expenses, operating income, interest and other income (net),
this type of income statement is a multiple step income statement.