Which of the following financial statements contains gross profit?
A) Income statement
B) Balance Sheet
C) Statement of cash flows
D) Statement of equity
E) None of the above

Name: Which of the following financial statements contains gross profit? A) Income statement B) Balance Sheet C) Statement of cash flows D) Statement of equity E) None of the above
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Question

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Gross profit is calculated by subtracting the cost of goods sold from revenue and is typically reported on the income statement.

Which of the Following Financial Statements Contains Gross Profit