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For each item below, indicate whether the statement describes a multiple-step income statement or a single-step income statement 1. Reports income from operations equal to

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For each item below, indicate whether the statement describes a multiple-step income statement or a single-step income statement 1. Reports income from operations equal to gross profit less operating expenses. 2 Distinguishes between operating and nonoperating items. 3. Reports income from operations as a separate line item 4. Reports nonoperating items below income from operations

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