a. Would you consider the presentation to be a multiple- step income statement or a single-step income statement? Comment.
b. Does it appear that there is a 100% ownership in all consolidated subsidiaries?
c. If a subsidiary were not consolidated but rather accounted for using the equity method, would this change net earnings loss)? Explain.
d. Describe equity in loss from unconsolidated entities.
e. Comment on Note 1. Does this note project favorably on the future of Lennar Corporation? Explain.