QS 4-15 Multiple- and single-step income statement presentation LO P4 Income statement information for Shoe Group, a German footwear, apparel, and accessories manufacturer, for the year ended December 31, 2016, follows (in millions). 1,028 36 1,461 9,387 82 117 Net income Financial income Financial expenses Operating profit Cost of sales Income taxes 1,507 Income before taxes Gross profit Royalty and commission income Other operating income Other operati Other operating expenses Net sales 274 8,271 19,307 433 Required: 1. Prepare the multiple-step income statement for the company for the year ended December 31, 2016. 2. Prepare the single-step income statement for the company for the year ended December 31, 2016. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the multiple-step income statement for the company for the year ended December 31, 2016. (Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.) SHOE GROUP Income Statement (6 millions) For Year Ended December 31, 2016 Net sales