Ask Question
15 June, 12:13

In an income statement subtracting the cost of goods sold from the net sales provides the?

+4
Answers (1)
  1. 15 June, 14:09
    0
    The correct answer is gross profit.

    The purpose of the income statement is to show the income of the business for the reporting period. When you subtract the costs of goods from the net sales you will have the gross profit. From the gross profit you will subtract your expenses in order to calculation the net income.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In an income statement subtracting the cost of goods sold from the net sales provides the? ...” in 📘 Computers and Technology if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers