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Wk 1 - Apply: Connect Homework (due Day 7) i Saved Help Save & Ex For each item below, indicate whether the statement describes a multiple-step income statement or a single-step income statement. 9 10 points 1. Distinguishes between operating and nonoperating items 2. Reports income from operations as a separate line item 3. Reports nonoperating items below income from operations. 4. Reports expenses in very few categories if any. Multiple-step income statement Multiple-step income statement Multiple-step income statement Single-step income statement