The list below contains several items that appear on a multiple-step income statement.
1. other income and expense
2. incame before income taxes
3. net Income
4. operating expenses
5. gross margin
6. net sales
7. income from operations
In which order would these items appear on a multiple-step income statement?
A) 6, 5, 4, 7, 1, 2, 3
B) 7, 6, 1, 4, 2, 3, 5
C) 6, 5, 4, 1, 7, 2, 3
D) 6, 7, 4, 1, 2, 3, 5
Correct Answer:
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