The following adjusted trial balance for Bell Servicing was prepared

The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2014:
The following adjusted trial balance for Bell Servicing was prepared

Required
1. Prepare a classified multiple-step income statement that would be used by the business's owner (like Exhibit 5.15).
2. Prepare a multiple-step income statement that would be used by external users (like Exhibit 5.16).
3. Prepare a single-step income statement that would be provided to decision makers outside the company (like Exhibit 5.17).
Analysis Component: If you were a decision maker external to Bell Servicing, which income statement format would you prefer and why, if you had a choice? Which income statement format(s) could you expect as an external user? Why?

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