3. Conceptual Connection: Comment on the differences between the single-step and the multiple-step income statements by answering "true or false" to the following: a. Both a single-step income statement and a multiple-step income statement report the same amount for net income. b. A single-step income statement provides three important classifications that financial statement users find useful-gross margin, income from operations, and net income. c. The only difference between the two formats is how the revenues and expenses are classified. a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $73,000 in cash along with equipment having a $33,000 value in exchange for common stock b. On May 21, Elegant Lawns purchases office supplies on credit for $340. c. On May 25, Elegant Lawns receives $8,100 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $1,300 cash in advance of providing landscaping services to a customer