Question

Income statement information for adidas Group, a German footwear, apparel, and accessories manufacturer, for the year ended December 31, 2013, follows. The company applies IFRS, as adopted by the European Union, and reports its results in millions of euros. Prepare its calendar year 2013
(1) Multiple-step income statement
(2) Single-step income statement.
Net income . . . . . . . . . . . . . . . . . . . . . . . . . € 790
Financial income. . . . . . . . . . . . . . . . . . . . . . 26
Financial expenses . . . . . . . . . . . . . . . . . . . . 94
Operating profit. . . . . . . . . . . . . . . . . . . . . . 1,202
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . 7,352
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . 344
Income before taxes . . . . . . . . . . . . . . . . . . 1,134
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . 7,140
Royalty and commission income . . . . . . . . . 104
Other operating income . . . . . . . . . . . . . . . 143
Other operating expenses. . . . . . . . . . . . . . 6,185
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,492


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  • CreatedApril 23, 2015
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