E$5-10$ Prepare multiple$-$step and sinqle$-$step income statement

In its income statement for the year ended December $31,2022,$ Laine Company reported the following

condensed data.

Instructions:

$($a$)$ Prepare a multiple$-$step income statement.

$($b$)$ Prepare a single$-$step income statement.

NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a $"?".$

After you have completed the requirements of ES$-10,$ consider the additional question.

Answers are on the other tab in this file.

Suppose cost of goods sold changed to $$1,320,000.$ What impact does this have on net income,

as determined using both the multiple$-$step and single$-$step income statements?