Sole proprietorships, partnerships and other small businesses may use the single-step format, which is easier to prepare. For example, a real estate partnership's income statement may have just ...

Single-Step vs. Multiple-Step Income Statement. The above example is the simplest form of income statement that any standard business can generate. It is called the single-step income statement as ...

Additionally, the multi-step income statement segregates operating and non-operating income. This enables you to analyze how much of net income for the period derived from normal business activities.

Example Example of an income statement. Let’s look at basic information from the most recent quarterly statement for Apple (AAPL 2.04%).As you’ll see, Apple breaks out its revenues and ...

A small business income statement helps the business see whether it’s operating at a profit or a loss You can use a single-step or multi-step income statement formula, with single-step formulas ...