Question: Why would a company use a single-step vs. a multi-step income statement? For what type of business is a multi-step income statement most appropriate? What

Why would a company use a single-step vs. a multi-step income statement? For what type of business is a multi-step income statement most appropriate? What situation might explain why a company's gross profit percentage went down from 60% to 40% from one year to the next

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