The income statement begins with revenue and subtracts various operating expenses until arriving at Earnings Before Interest and Taxes.Next,interest expense is subtracted to find the taxable income for the period.Then the appropriate taxes are calculated and subtracted.We finally arrive at the ________,the so-called bottom line of the income statement.
A)after-tax income
B)before-tax income
C)net income
D)EBIT

Question

Quizplus · Accepted Answer

The bottom line of the income statement is the net income, which is the final result after all revenue, operating expenses, interest expense, and taxes have been taken into account.

The Income Statement Begins with Revenue and Subtracts Various Operating