Which line item is reported on both the income statement and statement of retained earnings?
A)Net Income
B)Revenues
C)Expenses
D)Dividends

Question

Quizplus · Accepted Answer

The income statement lists the amounts for each revenue and expense account and computes net income (or loss).The amount for net income is transferred from the income statement to the statement of retained earnings.The Dividends number comes from the adjusted trial balance.

Which Line Item Is Reported on Both the Income Statement