Use the Indigo Books & Music Inc. financial statements that appear in Appendix A at the end of this book and on MyLab Accounting to answer the following questions:

1. Does Indigo use a single-step or multi-step income statement?

2. What does Indigo call their income statement? Is it separate from, or combined with, the comprehensive income?

3. Indigo’s basic earnings per share at April 1, 2017, was $0.79 per share. For purposes of this calculation, what was the weighted average number of shares outstanding? Where did you find this information?