Chapter 09 Single-Step to Multi-Step Income Statement Worksheet REQUIRED: For this assignment, students will prepare a Multi-Step Income Statement based upon the example format on page 338 (Exhibit 9-7), in the textbook. Using a Word document or Excel spreadsheet, create a Multi-Step Income Statement from the data on the Sample Single-Step Income Statement. Upload the file to the Multi-Step Income Statement DropBox. CRUISERS INC. AND SUBSIDIARIES Consolidated Income Statement For the Years Ended August 31, 2020 and 2019 (000 omitted) 2020 2019 Net sales Cost of goods sold Selling expenses General and administrative expenses Interest expense Other income, net Income before taxes Provision for income taxes Net income $77,543 $62,531 48,077 39,870 13,957 10,590 9,739 8,191 3,378 2,679 385 193 $ 2,777 1,250 $ 1,527 Basic earnings per share of common stock $ 5.48 $ 1,394 $ 2.42