Net income is found on which of the following two statements?

Question

Quizplus · Accepted Answer

Net income is found on the Income Statement which shows the company's revenue and expenses over a period of time. The Statement of Changes in Stockholders' Equity shows how the company's equity changed over a period of time due to transactions such as issuing or buying back stock, paying dividends, and changes in retained earnings. Therefore, net income is found on the Income Statement and the Statement of Changes in Stockholders' Equity.

Net Income Is Found on Which of the Following Two