some headings and/or items are used on either the single- or multiple-step income statement. Some are used on both. Identify each of following items as; single-step; multiple-step; both formats; or neither format.

1. sales

2. cost of goods sold.

3. selling expenses (heading for a group of expenses)

4. total revenues

5. utilities expense

6. Administrative expense (heading for a group of expenses)

7. Net income

8. Supplies on hand

9. Accumulated depreciation

10. income before income taxes

11. gross profit.

Select (single, mulitple, Both, or either) for each answer.