8. Or Understandinc Financial Scatements Prepare a multi-step income statement for the year ended December 31 . Combine all the operating expenses into one line on administrative expenses. Note: Do not use negative signs with your answers. Oursen 6 Notcomplete P Fag cuention Profitability and the Income Statement Presented below is income statement data for Longo \& Company as of year-end: 8. Or Understandinc Financial Scatements Prepare a multi-step income statement for the year ended December 31 . Combine all the operating expenses into one line on administrative expenses. Note: Do not use negative signs with your answers. Oursen 6 Notcomplete P Fag cuention Profitability and the Income Statement Presented below is income statement data for Longo \& Company as of year-end