Hi,

I need problem 2-7 Only, but you will use the income statements items in problem 2-6.

Thanks

The following income statement items, arranged in alphabetical of Shaw Corporation for the year ended December 31, 2012: Required Prepare a single-step income statement for the year ended December 31, 2012. 2. What weaknesses do you sec in this form for the income statement? Refer to die list of income statement items in Problem 2-6. Assume that Shaw Corporation classifies all operating expenses into two categories: (1) selling and (2) general and administrative. Required Prepare a multiple-step income statement for the year ended December 31, 2012. What advantages do your see in this form for the income statement? Compute Shaw's profit margin. Comment on Shaw's profitability. What other factors need to be taken into account to assess Shaw's profitability