Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 22

Income statement format and EPS disclosures Refer to the consolidated statements of earnings in the Campbell Soup Company annual report in the appendix.
Required:
a. Does Campbell's use the single-step format or the multiple-step format? Which format do you prefer? Explain your answer.
b. Refer to the basic and diluted earnings per share data and the related note disclosures in the appendix. Explain why this disclosure is appropriate.