Multiple-Step Income Statement

An income statement that computes Gross Profit, Income from Operations, Other Income and Expenses, as well as Net Income.

A single step income statement lists all the revenue items and subtracts all the expenses to get Net Income. A multi-step income statement divides the income into parts and computes income from each part before arriving at the total net income.

https://accounting.uworld.com/cpa-review/lc/accounting-dictionary/term/multiple-step-income-statement/