Question

Rearrange the following accounts or captions in the order in which they appear on the income statement______

a. Income before taxes (1)
b. Net sales (2)
c. Income from operations (3)
d. Gross profit (4)

Answer 1

The order in which the accounts or captions appear on the income statement is as follows: Gross profit, Net sales, Income from operations, Income before taxes.

Step-by-step explanation:

1. Gross profit (4)
2. Net sales (2)
3. Income from operations (3)
4. Income before taxes (1)