Chapter 4, Problem 4.1P

To determine

Concept Introduction:

Multiple-step income statement: The income statement determines net income during the period by taking into account all the expenses and revenues during the period, whereas a multiple-step income statement reports the expenses and revenues in detailed classification like general and administration expense, selling expense, interest expense, and sales revenue, interest revenue.

The multiple-step income statement for R Company for 2021 and 2020 in a comparative format.