| | (a) Prepare a multiple-step income statement. (List other revenues before other expenses. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) | NOVAK COMPANY Income Statement For the Month Ended December 31, 2020For the Year Ended December 31, 2020December 31, 2020 | | Owner's Capital, January 1, 2020Total ExpensesOwner's Capital, December 31, 2020Income from OperationsOther Expenses and LossesTotal RevenuesExpensesNet SalesGross ProfitDrawingsNet Income / (Loss)Other Revenues and Gains | | | | $ | | | | | | | | Other Expenses and LossesOther Revenues and GainsOwner's Capital, December 31, 2020DrawingsExpensesNet Income / (Loss)Owner's Capital, January 1, 2020Total ExpensesTotal RevenuesNet SalesIncome from OperationsGross Profit | | | | | | | | | | | | Gross ProfitNet SalesExpensesDrawingsOther Revenues and GainsOther Expenses and LossesNet Income / (Loss)Owner's Capital, January 1, 2020Owner's Capital, December 31, 2020Total RevenuesTotal ExpensesIncome from Operations | | | | | | DrawingsExpensesNet Income / (Loss)Owner's Capital, January 1, 2020Owner's Capital, December 31, 2020Total ExpensesTotal RevenuesNet SalesGross ProfitIncome from OperationsOther Revenues and GainsOther Expenses and Losses | | | | | | | | $ | | | | DrawingsExpensesNet Income / (Loss)Owner's Capital, January 1, 2020Owner's Capital, December 31, 2020Total ExpensesTotal RevenuesNet SalesGross ProfitIncome from OperationsOther Revenues and GainsOther Expenses and Losses | | | | | | | $ | | | | | | | | | | | | | | | | | Net Income / (Loss)DrawingsOther Revenues and GainsOwner's Capital, December 31, 2020Other Expenses and LossesOwner's Capital, January 1, 2020Comprehensive Income / (Loss)Gross ProfitOther Comprehensive LossExpensesTotal ExpensesTotal RevenuesNet SalesIncome from Operations | | | | $ | | | |
