Question

Information needed to prepare an income statement comes from the trial balance columns and the income statemnt columns of a work sheet.

Answer 1

The information needed to prepare an income statement comes from the trial balance columns and the income statement columns of a worksheet.

Step-by-step explanation:

The information needed to prepare an income statement comes from the trial balance columns and the income statement columns of a worksheet. A trial balance is a list of all the accounts and their balances, while the income statement columns of the worksheet show the revenue and expenses for a specific period. By analyzing the trial balance and income statement columns, you can determine the net income or loss and other financial information required to create an income statement.