Solve only part (d). I provide the answer for parts a, b, and c to make it easy to you to answer part d for me. please explain in deep.

CASE NO#1-MULTIPLE STEP INCOME STATEMENT , SINGLE STEP INCOME STATEMENT AND BALANCE SHEET (EXTRACTS) Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in USA. The company furnishes the following accounts data for the year ended, December 31, 2021. Credit (OMR) 950,000 2,500 10,000 Details Debit (OMR) Machinery 250,000 Premises 800,000 Sales Sales discounts 50,000 Sales returns and allowances 10,000 Cost of goods sold 315,000 Interest revenue Advertising expenses 60,000 Sales salary expenses 31,000 Purchase returns Depreciation expenses: Office equipment 27,000 Office supplies expenses 15,000 Insurance expenses 10,000 Bank 100,000 Interest expenses 3,500 Freight outwards 9,000 Rent (50% for administrative expenses) 14,000 Utilities (70% for selling expenses) 4,400 Gain on sale of property Loss on lawsuit 2,100 Depreciation expenses: Delivery Truck 2,900 Loss on sale of property 2,100 Electricity Expenses: (80% for selling expenses) 10,600 You are required to: (a) Draw up a Multiple Step Income Statement for the year ended 31 December 2021 28,800 (b) Draw up a Single Step Income Statement for the year ended 31 December 2021 (9) Draw up a Statement of Fiancial Position(extracts) for the year ended 31 December 2021 (d) Write a Report on the Financial Performance of the business based on the financial statements prepared. a Walmart Inc. Multi Step Income Statement Year ended December 31, 2021 Sales 950000 Sales Discounts -50000 Sales Retums & Allowances -10000 Net Sales 890000 Less: Cost of Goods Sold -315000 Gross Profit 575000 27000 Administrative Expenses Depreciation Expense : Office Equipment Office Supplies Expense Insurance Expense Rent (50%) 15000 10000 7000 Utilities (30%) 1320 2120 Electricity Expense (20%) Total Administrative Expenses 62440 60000 Selling & Distribution Expenses Advertisement Expenses Sales Salary Expenses Freight Outwards 31000 9000 Rent (50%) 7000 Utilities (70%) 3080 Depreciation Expense: Delivery Truck 2900 8480 Electricity Expense (80%) Total Selling & Distribution Expenses 121460 Net Operating Income 391100 2500 -3300 Non Operating Income (Expenses) Interest Revenue Interest Expense Gain on Sale of Property Loss on Lawsuit Loss on sale of Property Total Non Operating Income (Expenses) 28800 -2100 -2100 23800 Net Income 414900 b) Walmart Inc. Single Step Income Statement Year ended December 31, 2021 Revenue Sales 950000 -50000 Sales Discounts Sales Returns & Allowances Net Sales -10000 890000 2500 Interest Revenue Gain on Sale of Property Total Revenue 28800 921300 315000 Expenses Cost of Goods Sold Depreciation Expense : Office Equipment Office Supplies Expense Insurance Expense 27000 15000 10000 Rent 14000 Utilities 4400 10600 60000 31000 Electricity Expense Advertisement Expenses Sales Salary Expenses Freight Outwards Depreciation Expense : Delivery Truck Interest Expense Loss on Lawsuit 9000 2900 3300 2100 Loss on sale of Property 2100 Total Expenses 506400 Net income/(Loss) 414900 c) Balance Sheet (Extract) December 31, 2021 Assets Current Assets Bank 100,000 Non Current Assets Machinery 250000 Premises 800000 Office Equipment 27000 CASE NO#1-MULTIPLE STEP INCOME STATEMENT , SINGLE STEP INCOME STATEMENT AND BALANCE SHEET (EXTRACTS) Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in USA. The company furnishes the following accounts data for the year ended, December 31, 2021. Credit (OMR) 950,000 2,500 10,000 Details Debit (OMR) Machinery 250,000 Premises 800,000 Sales Sales discounts 50,000 Sales returns and allowances 10,000 Cost of goods sold 315,000 Interest revenue Advertising expenses 60,000 Sales salary expenses 31,000 Purchase returns Depreciation expenses: Office equipment 27,000 Office supplies expenses 15,000 Insurance expenses 10,000 Bank 100,000 Interest expenses 3,500 Freight outwards 9,000 Rent (50% for administrative expenses) 14,000 Utilities (70% for selling expenses) 4,400 Gain on sale of property Loss on lawsuit 2,100 Depreciation expenses: Delivery Truck 2,900 Loss on sale of property 2,100 Electricity Expenses: (80% for selling expenses) 10,600 You are required to: (a) Draw up a Multiple Step Income Statement for the year ended 31 December 2021 28,800 (b) Draw up a Single Step Income Statement for the year ended 31 December 2021 (9) Draw up a Statement of Fiancial Position(extracts) for the year ended 31 December 2021 (d) Write a Report on the Financial Performance of the business based on the financial statements prepared. a Walmart Inc. Multi Step Income Statement Year ended December 31, 2021 Sales 950000 Sales Discounts -50000 Sales Retums & Allowances -10000 Net Sales 890000 Less: Cost of Goods Sold -315000 Gross Profit 575000 27000 Administrative Expenses Depreciation Expense : Office Equipment Office Supplies Expense Insurance Expense Rent (50%) 15000 10000 7000 Utilities (30%) 1320 2120 Electricity Expense (20%) Total Administrative Expenses 62440 60000 Selling & Distribution Expenses Advertisement Expenses Sales Salary Expenses Freight Outwards 31000 9000 Rent (50%) 7000 Utilities (70%) 3080 Depreciation Expense: Delivery Truck 2900 8480 Electricity Expense (80%) Total Selling & Distribution Expenses 121460 Net Operating Income 391100 2500 -3300 Non Operating Income (Expenses) Interest Revenue Interest Expense Gain on Sale of Property Loss on Lawsuit Loss on sale of Property Total Non Operating Income (Expenses) 28800 -2100 -2100 23800 Net Income 414900 b) Walmart Inc. Single Step Income Statement Year ended December 31, 2021 Revenue Sales 950000 -50000 Sales Discounts Sales Returns & Allowances Net Sales -10000 890000 2500 Interest Revenue Gain on Sale of Property Total Revenue 28800 921300 315000 Expenses Cost of Goods Sold Depreciation Expense : Office Equipment Office Supplies Expense Insurance Expense 27000 15000 10000 Rent 14000 Utilities 4400 10600 60000 31000 Electricity Expense Advertisement Expenses Sales Salary Expenses Freight Outwards Depreciation Expense : Delivery Truck Interest Expense Loss on Lawsuit 9000 2900 3300 2100 Loss on sale of Property 2100 Total Expenses 506400 Net income/(Loss) 414900 c) Balance Sheet (Extract) December 31, 2021 Assets Current Assets Bank 100,000 Non Current Assets Machinery 250000 Premises 800000 Office Equipment 27000