Common items found on an income statement include all of the following except for which of the following:
A) Revenue
B) Retained earnings
C) Cost of sales
D) Sales, general and administrative expenses
E) Net income

Question

Quizplus · Accepted Answer

Retained earnings are not found on the income statement. They are found on the statement of retained earnings, which is a separate financial statement. The income statement includes revenue, cost of sales, sales, general and administrative expenses, and net income.

Common Items Found on an Income Statement Include All of the Following