Question

Which of the following amounts would be reported as the same subtotal on both a multiple-step income statement and a single-step income statement?

A) Gross Profit
B) Operating Income
C) Net Income
D) Total Revenues

Answer 1

On both a multiple-step income statement and a single-step income statement, the amount reported as the same subtotal is Operating Income.

Step-by-step explanation:

On both a multiple-step income statement and a single-step income statement, the amount reported as the same subtotal would be Operating Income. Operating income is calculated by subtracting operating expenses from gross profit. It represents the profit generated from a company's core operations before considering interest and taxes.