Answered: On a multiple-step income statement,…

On a multiple-step income statement, the excess of net sales over the cost of merchandise sold is called?" Cost of Goods Sold Operating income Net income Gross profit

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section22.2: Preparing An Income Statement, Statement Of Stockholders’ Equity, And Balance Sheet

Problem 1AYU

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On a multiple-step income statement, the excess of net sales over the cost of merchandise sold is called?"

		Cost of Goods Sold
		Operating income
		Net income
		Gross profit

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