Income statement information for Adidas Group, a German footwear, apparel, and accessories…

Income statement information for Adidas Group, a German footwear, apparel, and accessories…

Income statement information for Adidas Group, a German footwear, apparel, and accessories manufacturer, for the year ended December 31, 2008, follows. The company applies IFRS, as adopted by the European Union, and reports its results in millions of Euros. Prepare its calendar year 2008 (1) Multiple-step income statement (2) Single-step income statement. Net income . . . . . . . . . . . . . . . . . . . . . . . . . € 644 Financial income . . . . . . . . . . . . . . . . . . . . . . 37 Financial expenses . . . . . . . . . . . . . . . . . . . . 203 Operating profit . . . . . . . . . . . . . . . . . . . . . . 1,070 Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . 5,543 Income taxes . . . . . . . . . . . . . . . . . . . . . . . . 260 Income before taxes . . . . . . . . . . . . . . . . . . 904 Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . 5,256 Royalty and commission income . . . . . . . . . 89 Other operating income . . . . . . . . . . . . . . . 103 Other operating expenses . . . . . . . . . . . . . 4,378 Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,799

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