Question

Which of the following are shown on the Income Statement?

(a)Total assets
(b)Land
(c)Common Stock
(d)Net Change in Cash
(e)Revenue
(f)Notes Payable
(g)Stockholders' Equity
(h)Total Liabilities and Stockholders' Equity
(i)Expenses
(j)Net Income
(k)Ending cash balance
(l)Beginning cash balance
(m)Dividends

Answer 1

The Income Statement shows revenue, expenses, and net income over a specific period of time. The items shown on the Income Statement from the given options are revenue, expenses, and net income.

Step-by-step explanation:

The Income Statement is a financial statement that shows a company's revenues, expenses, and net income over a specific period of time. From the given options, the items shown on the Income Statement are:

1. Revenue - represents the company's income from sales of goods or services.
2. Expenses - represents the costs incurred by the company in generating revenue, such as salaries, rent, and utilities.
3. Net Income - is the final result after deducting expenses from revenue. It represents the company's profit or loss for the period.

Therefore, the correct options from the given list are (e) Revenue, (i) Expenses, and (j) Net Income.