(I actually had to think a moment about what you were saying because in my mind "newline" is the name of a character, ^J, whereas what you meant was "new line." :~) An interesting example in which using one or two words actually affects the meaning, unlike the way "web site" has become "website" in popular usage.)
Anyway, I'd prefer to keep the simple case (no ELSE IFs) on one line; if we could do that and also split it when you add ELSE IFs, that'd be okay.