The Net Income appears as a separate line item on what two statements?
A)the statement of owner's equity and the income statement
B)the trial balance and the income statement
C)the income statement and the balance sheet
D)the statement of owner's equity and the balance sheet

Question

Quizplus · Accepted Answer

Net Income is a key component in both the income statement, where it is the final line item representing the profit or loss over a period, and the statement of owner's equity, where it contributes to the change in owner's equity from the beginning to the end of the period.

The Net Income Appears as a Separate Line Item on What