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Income statement information for adidas Group a German footwear apparel and accessories manufacturer, for the year ended December 31 2009 follows The company applies IFRS as adopted by the


Income statement information for adidas Group, a German footwear, apparel, and accessories manufacturer, for the year ended December 31, 2009, follows. The company applies IFRS, as adopted by the European Union, and reports its results in millions of Euros. Prepare its calendar year 2009 (1) multiple-step income statement and (2) single-step income statement.

 

Net income . . . . . . . . . . . . . . . . . . . . . . . . . € 245

Financial income . . . . . . . . . . . . . . . . . . . . . 19

Financial expenses . . . . . . . . . . . . . . . . . . . . 169

Operating profit . . . . . . . . . . . . . . . . . . . . . 508

Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . 5,669

Income taxes . . . . . . . . . . . . . . . . . . . . . . . . 113

Income before taxes . . . . . . . . . . . . . . . . . . 358

Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . 4,712

Royalty and commission income . . . . . . . . 86

Other operating income . . . . . . . . . . . . . . . 100

Other operating expenses . . . . . . . . . . . . . 4,390

Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,381

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