The net income shown on the income statement also appears on the:
A) balance sheet and operations statement.
B) statement of assets.
C) statement of financial position.
D) statement of retained earnings.

Question

Quizplus · Accepted Answer

The net income shown on the income statement is carried over to the statement of retained earnings. This statement shows how the company's net income is either used for dividend payments or retained for future use.

The Net Income Shown on the Income Statement Also Appears