Income statement information for adidas Group, a German footwear, apparel, and accessories manufacturer, for the year ended December 31, 2014, follows. The company applies IFRS and reports its results in millions of euros. Prepare its calendar-year 2014
(1) Multiple-step income statement
(2) Single-step income statement
Net income ............................................ € 564
Financial income ...................................... 19
Financial expenses .................................... 67
Operating profit ....................................... 883
Cost of sales .......................................... 7,610
Income taxes .......................................... 271
Income before taxes ................................. 835
Gross profit ........................................... 6,924
Royalty and commission income .................. 102
Other operating income ............................. 138
Other operating expenses ........................... 6,281
Net sales .............................................. 14,534