Which of the following shows the net sales, cost of goods sold, and ex

QUESTION

Which of the following shows the net sales, cost of goods sold, and expenses?

A) the balance sheet
B) the income statement
C) the cash flow statement
D) the retained earnings report
E) the owners’ equity statement

ANSWER

Answer: B
Explanation: B) An income statement shows the net sales, cost of goods sold, and expenses and their bottom line.