Question: Is there a short-hand way to remember the Multi step Income statement? It's hard for me to remember S.R. - COGS = GP - Operating

Is there a short-hand way to remember the Multi step Income statement? It's hard for me to remember S.R. - COGS = GP - Operating Expense = Operating Income - Non Operating Expenses = Income before taxes - Tax Expenses = Net Income.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!