Which of the following amounts appears on both the income statement and statement of retained earnings?

Question

Quizplus · Accepted Answer

Net income is the amount of profit earned by a company in a given period, which is reported on the income statement. The net income is then added to the beginning balance of retained earnings to calculate the ending balance, which is reported on the statement of retained earnings. Therefore, net income appears on both the income statement and statement of retained earnings.

Which of the Following Amounts Appears on Both the Income