Accounting – Discussion Question

Why would a company use a single-step vs. a multi-step income statement? For what type of business is a multi-step income statement most appropriate?
What situation might explain why a company’s gross profit percentage went down from 60% to 40% from one year to the next?

This is for a discussion post.  Only need it to be a paragraph long.  Short and to the point.

DUE 5/21