Would this be considered a single step or multi step income statement and why? (In thousands, except

Would this be considered a single step or multi step income statement and why?

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(In thousands, except per share data) Net sales Cost of sales Gross profit Selling, general and administrative expenses Impairment, restructuring and other costs Pre-opening expenses Operating income Interest (income) expense, net Income before income taxes Income tax expense Net income Net income per common share: Basic Diluted Weighted average common shares outstanding: Basic Diluted Fiscal year ended January 28, 2023 January 29, 2022 January 30, 2021 $ 10,208,580 6,164,070 $ 8,630,889 $ 6,151,953 5,262,335 4,202,794 4,044,510 3,368,554 1,949,159 2,395,299 2,061,545 1,583,017 114,322 10,601 1,638,610 9.517 15,000 1,297,492 236,820 (4,934) 1,643,544 1,663 1,295,829 5,735 231,085 $ 401,136 1,242,408 $ 309,992 985,837 $ 55,250 175,835 $ 24.17 $ 18.09 $ 3.12 $ 24.01 $ 17.98 $ 3.11 51,403 51,738 See accompanying notes to consolidated financial statements. 54,482 54,841 56,351 56,558 (In thousands, except per share data) Net sales Cost of sales Gross profit Selling, general and administrative expenses Impairment, restructuring and other costs Pre-opening expenses Operating income Interest (income) expense, net Income before income taxes Income tax expense Net income Net income per common share: Basic Diluted Weighted average common shares outstanding: Basic Diluted Fiscal year ended January 28, 2023 January 29, 2022 January 30, 2021 $ 10,208,580 6,164,070 $ 8,630,889 $ 6,151,953 5,262,335 4,202,794 4,044,510 3,368,554 1,949,159 2,395,299 2,061,545 1,583,017 114,322 10,601 1,638,610 9.517 15,000 1,297,492 236,820 (4,934) 1,643,544 1,663 1,295,829 5,735 231,085 $ 401,136 1,242,408 $ 309,992 985,837 $ 55,250 175,835 $ 24.17 $ 18.09 $ 3.12 $ 24.01 $ 17.98 $ 3.11 51,403 51,738 See accompanying notes to consolidated financial statements. 54,482 54,841 56,351 56,558

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A singlestep income statement presents only two main categories total revenues and total expenses It ... View the full answer