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CASE NO#1-FINANCIAL STATEMENTS

Kroger Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas. The company furnishes the following accounts data, from the adjusted trial balance for the year ended, December 31, 2022.

Details	Debit (OMR)	Credit (OMR)
Interest revenue		3,500
Advertising expenses	70,000
Sales salary expenses	41,000
Purchase returns		20,000
Sales		825,000
Sales discounts	25,000
Sales returns and allowances	15,000
Cost of goods sold	345,000
Depreciation expenses: Office equipment	37,000
Office supplies expenses	17,000
Insurance expenses	15,000
Bank	110,000
Interest expenses	4,300
Freight outwards	10,000
Rent (50% for administrative expenses)	15,000
Utilities (70% for selling expenses)	4,400
Gain on sale of property		28,800
Loss on sale of property	1,100
Electricity Expenses: (80% for selling expenses)	6,600
Loss on lawsuit	3,100
Depreciation expenses: Delivery Truck	2,900

You are required to:

Draw up a Multiple Step Income Statement for the year ended 31 December 2022 &

Draw up a Single Step Income Statement for the year ended 31 December 2022

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