Net income appears on which of the following statement(s)?
A)Balance sheet.
B)Statement of cash flows.
C)Statement of changes in equity.
D)Income statement.
E)Both an income statement and statement of changes in equity.

Question

Quizplus · Accepted Answer

Net income appears on the income statement as the final figure after all revenues and expenses are accounted for. It also appears on the statement of changes in equity as it affects retained earnings.

Net Income Appears on Which of the Following Statement(s)