Chapter 4 is replete with examples of how to prepare a multiple-step income statement. The issue is where and how to report the different categories of income or loss such as unusual/infrequent gains or losses, discontinued operations, earnings per share, etc. Of course, this applies to mostly publicly-traded corporations. Discuss two or three new concepts learned from the chapter.

Textbook: Kieso, Weygandt, and Warfield (2019) Intermediate Accounting, 17th Edition. John Wiley & Sons, Inc. ISBN-13: 978-1-11957148-3.