Final answer:
The first three things listed on a multistep income statement are Net Sales or Revenue, Cost of Goods Sold, and Gross Profit.
Step-by-step explanation:
The first three things listed on a multistep income statement are:
- Net Sales or Revenue
- Cost of Goods Sold
- Gross Profit
Net Sales or Revenue represents the total amount of sales made by a company. Cost of Goods Sold refers to the direct costs incurred in producing the goods or services sold. Gross Profit is calculated by subtracting the Cost of Goods Sold from the Net Sales or Revenue.