Indicate whether each statement describes a multiple-step income statement or a single-step income statement. 1. Reports gross profit on a separate line. 2. Separates income from operations from the other revenues and gains. 3. Separates revenues and gains into operating or nonoperating. 4. Separates expenses and losses into operating or nonoperating.

Indicate whether each statement describes a multiple-step income statement or a single-step income statement. Indicate whether each statement describes a multiple-step income statement or a single-step income statement