The Proctor and Gamble Company Trial balance as of June 30, 2011 ($ in millions) Sa Debits Credits $ Cash and cash equivalents Accounts receivable 2,768 6,275 Inventories 7,379 Deferred income taxes 1,140 Prepaid expenses and other current assets 4,408 41,507 Property, plant, and equipment, at cost Accumulated depreciation Trademarks and other intangibles, net $ 20,214 32,620 1. Prepare Proctor & Gamble's income statement for the year ended June 30, 2011, using a multiple-step format. 2. Prepare Proctor & Gamble's income statement for the year ended June 30, 2011, using a single-step format. Which format for the income statement is more informative? Why? 3. Prepare Proctor & Gamble's classified balance sheet as of June 30, 2011, Done av ni imhor in the in-... The Proctor & Gamble Company is one of the largest consumer products companies in America. The (slightly modified) trial balan here: (Click the icon to view the modified trial balance.) Read the requirements, Requirement 1. Prepare Proctor & Gamble's income statement for the year ended June 30, 2011, using a multiple-step format. Proctor and Gamble Company Income Statement (Multiple-Step Format) For the Year Ended June 30, 2011 (in millions) The Proctor and Gamble Company Trial balance as of June 30, 2011 ($ in millions) Sa Debits Credits $ Cash and cash equivalents Accounts receivable 2,768 6,275 Inventories 7,379 Deferred income taxes 1,140 Prepaid expenses and other current assets 4,408 41,507 Property, plant, and equipment, at cost Accumulated depreciation Trademarks and other intangibles, net $ 20,214 32,620 1. Prepare Proctor & Gamble's income statement for the year ended June 30, 2011, using a multiple-step format. 2. Prepare Proctor & Gamble's income statement for the year ended June 30, 2011, using a single-step format. Which format for the income statement is more informative? Why? 3. Prepare Proctor & Gamble's classified balance sheet as of June 30, 2011, Done av ni imhor in the in-... The Proctor & Gamble Company is one of the largest consumer products companies in America. The (slightly modified) trial balan here: (Click the icon to view the modified trial balance.) Read the requirements, Requirement 1. Prepare Proctor & Gamble's income statement for the year ended June 30, 2011, using a multiple-step format. Proctor and Gamble Company Income Statement (Multiple-Step Format) For the Year Ended June 30, 2011 (in millions)