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The first step in preparing an income statement is to • A. gather information on sales and income • B. report service revenue, sales, and professional fees C. add revenue and expenses to determine net
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28 votes
28 votes
The first step in preparing an income statement is to

• A. gather information on sales and income
• B. report service revenue, sales, and professional fees
C. add revenue and expenses to determine net income
• D. report mortgage payments, utilities, and service supplies
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User Ihsoy Ih
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1 Answer

21 votes
21 votes

Answer:

The answer is B. report service revenue, sales, and professional fees

Step-by-step explanation:

  • Pick a Reporting Period. The first step in preparing an income statement is to choose the reporting period your report will cover.
User DKnight
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