Kroger Inc. is an American multinational retal corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas. The company furnishes the following accounts data, from the adjusted trial balance for the year ended. December 31. 2022

you are required to :

a) Draw up a Multiple Step Income Statement for the year ended 31 December 2022 &

b) Draw up a Single Step Income Statement for the year ended 31 December 2022

(c) You are required to draft a report on the Financial Performance of the business.

\begin{tabular}{|l|r|r|} \hline Details & Debit (OMR) & Credit (OMR) \\ \hline Interest revenue & & 3,500 \\ \hline Advertising expenses & 70,000 & \\ \hline Sales salary expenses & 41,000 & \\ \hline Purchase returns & & 20,000 \\ \hline Sales & & 825,000 \\ \hline Sales discounts & 25,000 & \\ \hline Sales returns and allowances & 15,000 & \\ \hline Cost of goods sold & 345,000 & \\ \hline Depreciation expenses: Office equipment & 37,000 & \\ \hline Office supplies expenses & 17,000 & \\ \hline Insurance expenses & 15,000 & \\ \hline Bank & 110,000 & \\ \hline Interest expenses & 4,300 & \\ \hline Freight outwards & 10,000 & \\ \hline Rent (50\% for administrative expenses) & 15,000 & \\ \hline Utilities (70\% for selling expenses) & 4,400 & \\ \hline Gain on sale of property & & \\ \hline Loss on sale of property & 1,100 & \\ \hline Electricity Expenses: (80\% for selling expenses) & 6,600 & \\ \hline Loss on lawsuit & 3,100 & \\ \hline Depreciation expenses: Delivery Truck & 2,900 & \\ \hline \end{tabular}