a$)$ A multistep income statement separates product from period costs.

b$)$ A single$-$step income statement shows the computation of gross margin.

c$)$ Interest is normally shown as a separate item on the multistep income statement.

d$)$ The treatment of interest on the multistep income statement is consistent with the treatment of interest on the statement of cash flows.

e$)$ Gains and losses are included in operating income on a multistep income statement.