Generate a corresponding question for each of the points below: - A straightforward method involving a single subtraction to determine net income is used to prepare the single-step income statement. Very small businesses can use it. - There are several steps involved in preparing the multiple-step income statement in order to determine comprehensive income. A noteworthy initial step is figuring out gross profit. - Following the gross profit calculation, there are several steps involved in preparing the multiple-step income statement. These include calculating operating income, net income, and comprehensive income, which provide information about a company's financial performance. - Distinctive or infrequent transactions, like shut-down operations and storm-related damage, are shown separately on the income statement. - Additional information that may not be reflected in the financial statements is disclosed in the notes to the financial statements. - A financial statement's notes section may contain a variety of items, including the accounting basis of use, terms related to notes receivable, and other accounting decisions