Question: 1. Explain where each of these items would appear on a multiple-step income statement: gain on disposal of plant assets, cost of goods sold, depreciation expense, and sales returns and allowances.
2. The following information relates to Karen Weigel Inc. for the year 2017
![1143_UE.png](https://secure.tutorsglobe.com/CMSImages/1143_UE.png)
After analyzing the data,
(a) compute net income and
(b) prepare a comprehensive income statement for the year ending December 31, 2017.