Please answer clearly and thoroughly1) On the RE Statement it shows the Net Income, if there is a loss will it show Net Loss?2) How do you configure the Net Income or Net Loss amount?

Only find: Net Income/Loss, please!

Which of the following accounts would never be reportedin the income statement as an expense?a. Depreciation expense.b. Income taxes expense.c. Interest expense.d. Dividends expense.

Only do the net income (loss)

What does it mean when you have a debit balance of accrued interest income? Does a Debit balance accrued interest inome a deduction in net income?

What is the major distinction (a) between revenues and gains and (b) between expenses and losses?

Please explain the meaning of the following statement, I don't understand. The income reports net income or net loss that is equal to total revenues and gains, less total expenses and losses or the amount of income or loss that is left after total expenses have been deducted from total income.

How do you find the net income or net loss?  I know that net income is found by revenues - expenses.

Which of the following equations expresses the definition of “income”?   Choices; Income = Revenues – Expenses Income = (Revenues + Gains) – (Expenses + Losses) Income = Revenues + Gains Income = Gains – Losses

Which of the following accounts would not be involved in preparing the income statement? Group of answer choices Tax expense All the accounts would be involved in preparing the income statement. Interest income Accumulated depreciation Depreciation expense