Case III

Nemo Company
Schedule 1: Cost of Goods Sold
For Year Ended December 31, 2010

Inventory 80.000
Purchases 8.000
Freight-in 10.000
Cost of purchases 18.000
Less: purchases return (2.000)
Net purchases 16.000
Cost of goods available for sale 96.000
Less: Inventory December 31, 2010 75.000
Cost of Goods Sold 21.000

Sehingga Untuk Income Statement dengan multiple-step

Nemo Company
Income Statement
For Year Ended December 31, 2010

Sales revenue 250.000

Less: Sales return 160.000
Sales discount taken 8.000 (168.000)
Net sales 82.000
COGS (21.000)
Gross profit 61.000
Operating expense
Administrative salaries expense 15.000
Depreciation expense: equipment 13.000
Sales salaries expense 14.000
Total operating expense (42.000)
Operating income 19.000
Other item
Dividend revenue 10.000
Gain on sale land 10.000
Loss on sale of equipment (14.000) 6.000
Pretax income from continuing operations 25.000
Income tax expense (7.500)
Income from continuing operations 17.500
Results from discontinued operations 0
Income before extraordinary items 0
Extraordinary item 0
Net income 17.500