Multiple-step income statements show

gross profit but not income from operations.
neither gross profit nor income from operations.
both income from operations and gross profit.
income from operations but not gross profit.

both income from operations and gross profit.

Explanation:

As we know that

The income statement recognized the revenues earned and the expenses incurred for a particular period

And the multiple-step income statement refers to the classification of expenses like

The format is shown below:

Sales                                  

Less: Cost of goods sold  

Gross profit                        

Less: Operating expenses

Administrative expenses     

Selling expenses                  

Operating income                 

Non operating income or others

Less: Interest expense          

Rent revenue                          

Net income                            

Therefore, the third option is correct

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