OK, let's crack this. We're given 506 and our task is to multiply it by 116. Essentially, we'll be adding 506 to itself 116 times.
Step 1: 0 + 506 = 506
Step 2: 506 + 506 = 1012
Step 3: 1012 + 506 = 1518
Step 4: 1518 + 506 = 2024
Step 5: 2024 + 506 = 2530
Step 6: 2530 + 506 = 3036
Step 7: 3036 + 506 = 3542
Step 8: 3542 + 506 = 4048
Step 9: 4048 + 506 = 4554
Step 10: 4554 + 506 = 5060
Step 11: 5060 + 506 = 5566
Step 12: 5566 + 506 = 6072
Step 13: 6072 + 506 = 6578
Step 14: 6578 + 506 = 7084
Step 15: 7084 + 506 = 7590
Step 16: 7590 + 506 = 8096
Step 17: 8096 + 506 = 8602
Step 18: 8602 + 506 = 9108
Step 19: 9108 + 506 = 9614
Step 20: 9614 + 506 = 10120
Step 21: 10120 + 506 = 10626
Step 22: 10626 + 506 = 11132
Step 23: 11132 + 506 = 11638
Step 24: 11638 + 506 = 12144
Step 25: 12144 + 506 = 12650
Step 26: 12650 + 506 = 13156
Step 27: 13156 + 506 = 13662
Step 28: 13662 + 506 = 14168
Step 29: 14168 + 506 = 14674
Step 30: 14674 + 506 = 15180
Step 31: 15180 + 506 = 15686
Step 32: 15686 + 506 = 16192
Step 33: 16192 + 506 = 16698
Step 34: 16698 + 506 = 17204
Step 35: 17204 + 506 = 17710
Step 36: 17710 + 506 = 18216
Step 37: 18216 + 506 = 18722
Step 38: 18722 + 506 = 19228
Step 39: 19228 + 506 = 19734
Step 40: 19734 + 506 = 20240
Step 41: 20240 + 506 = 20746
Step 42: 20746 + 506 = 21252
Step 43: 21252 + 506 = 21758
Step 44: 21758 + 506 = 22264
Step 45: 22264 + 506 = 22770
Step 46: 22770 + 506 = 23276
Step 47: 23276 + 506 = 23782
Step 48: 23782 + 506 = 24288
Step 49: 24288 + 506 = 24794
Step 50: 24794 + 506 = 25300
Step 51: 25300 + 506 = 25806
Step 52: 25806 + 506 = 26312
Step 53: 26312 + 506 = 26818
Step 54: 26818 + 506 = 27324
Step 55: 27324 + 506 = 27830
Step 56: 27830 + 506 = 28336
Step 57: 28336 + 506 = 28842
Step 58: 28842 + 506 = 29348
Step 59: 29348 + 506 = 29854
Step 60: 29854 + 506 = 30360
Step 61: 30360 + 506 = 30866
Step 62: 30866 + 506 = 31372
Step 63: 31372 + 506 = 31878
Step 64: 31878 + 506 = 32384
Step 65: 32384 + 506 = 32890
Step 66: 32890 + 506 = 33396
Step 67: 33396 + 506 = 33902
Step 68: 33902 + 506 = 34408
Step 69: 34408 + 506 = 34914
Step 70: 34914 + 506 = 35420
Step 71: 35420 + 506 = 35926
Step 72: 35926 + 506 = 36432
Step 73: 36432 + 506 = 36938
Step 74: 36938 + 506 = 37444
Step 75: 37444 + 506 = 37950
Step 76: 37950 + 506 = 38456
Step 77: 38456 + 506 = 38962
Step 78: 38962 + 506 = 39468
Step 79: 39468 + 506 = 39974
Step 80: 39974 + 506 = 40480
Step 81: 40480 + 506 = 40986
Step 82: 40986 + 506 = 41492
Step 83: 41492 + 506 = 41998
Step 84: 41998 + 506 = 42504
Step 85: 42504 + 506 = 43010
Step 86: 43010 + 506 = 43516
Step 87: 43516 + 506 = 44022
Step 88: 44022 + 506 = 44528
Step 89: 44528 + 506 = 45034
Step 90: 45034 + 506 = 45540
Step 91: 45540 + 506 = 46046
Step 92: 46046 + 506 = 46552
Step 93: 46552 + 506 = 47058
Step 94: 47058 + 506 = 47564
Step 95: 47564 + 506 = 48070
Step 96: 48070 + 506 = 48576
Step 97: 48576 + 506 = 49082
Step 98: 49082 + 506 = 49588
Step 99: 49588 + 506 = 50094
Step 100: 50094 + 506 = 50600
Step 101: 50600 + 506 = 51106
Step 102: 51106 + 506 = 51612
Step 103: 51612 + 506 = 52118
Step 104: 52118 + 506 = 52624
Step 105: 52624 + 506 = 53130
Step 106: 53130 + 506 = 53636
Step 107: 53636 + 506 = 54142
Step 108: 54142 + 506 = 54648
Step 109: 54648 + 506 = 55154
Step 110: 55154 + 506 = 55660
Step 111: 55660 + 506 = 56166
Step 112: 56166 + 506 = 56672
Step 113: 56672 + 506 = 57178
Step 114: 57178 + 506 = 57684
Step 115: 57684 + 506 = 58190
Step 116: 58190 + 506 = 58696

So, 506*116 = 58696