Question

In: Accounting

Which of the following would you find on the Income Statement? 1) Salary expense 2) Net...

Which of the following would you find on the Income Statement?

1)	Salary expense

2)	Net income

3)	Capital stock

4)	Income tax expense

5)

Cash

6)	Gain on sale of building

7)	Loss on sale of investment

8)

Sales

9)	Dividends paid

10)	Retained earnings

Expert Solution

The correct answer is

Following will be find out on income statement

Salary expense , net income , income tax expense , Gain on sale of building , loss on sale of investments , sales

Expaination

Sales are part of revenue which are shown in income statement , Salary expense and income tax expense are part of expenses which are shown in income statement and gain or loss on sale of building and investments are also part of income statement and net result of income statement is net income, so it is also the part of income statement. The remaining options are not part of income statement.

ekkarill92 answered 2 years ago

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