A numbered list of income statement classifications for a merchandising company follows. Write the number of the
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1. Gross profit section
2. Operating expenses section
3. Other revenues and expenses section
4. Discontinued operations section
5. Not reported on income statement
(a) _______ A realized gain on the sale of trading investments
(b) _______ Sales revenue
(c) _______ Salaries expense
(d) _______ Cost of goods sold
(e) _______ Dividend revenue
(f) _______ A loss from operations of a discontinued wholesale business
(g) _______ Interest expense
(h) _______ A writedown of obsolete inventory
(i) _______ A gain on the disposal of assets of a discontinued wholesale business
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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