You and some friends have decided to start an investment club. Several of the new members of the club, however, have no knowledge of financial statements, particularly the income statement. They understand that a company must make money, but they get confused when they read a multi-step income statement.

Prepare a short memo for current and future members that describe the subtotals of income on a multi-step income statement. Be sure to provide examples of both a simple and a multi-step income statement.

Use appropriate memo formatting and APA citation/reference format where appropriate.

Submit this memo in the drop box by Week 6, Day 7.

Use the material from Chapter 2 from the ACCT textbook for assistance and reference.

W6 Assignment Grading Criteria	Max Points
Address all elements of the assignment, support response with appropriate examples and information; demonstrate knowledge of content; organize information that is easy to follow.	35
Provided an example of both styles of income statement.	20
Follow APA format; use correct grammar & spelling; use complete sentences; use proper paragraph structure; cite references correctly.	5
Total	60