c.
Arrogantly
Explanation:
What Candice is saying here basically boils down to 'we don't need to compare this to last year's performance as I want to see positive results not negatives'<u> insinuating that the performance has become worse in the last year.</u>
<u>Regressions in a financial report mean weaker performance over the fiscal year while projections mean that the performance was better.</u>
Answer:
Big Tommy Corporation
Profit and Loss for the year ended December 31
Sales 404,000
Cost of Goods Sold 279,000
Gross Profit 125,000
<em>Operating Expenses:</em>
Salaries and Wages Expense 58,000
Office Expenses 16,000
Travel Expenses 1,000 75,000
Operating Income: 50,000
Non-Operating Expenses
Income Tax Expense 15,000 15,000
Net Income 35,000
Explanation:
Multistep income statement makes a clear distinction on Operating Incomes and Expenses and Non-Operating Incomes and Expenses
Operating income is Profit generated from Primary activities of the company
Non-Operating Incomes and Expenses do not relate to the Primary activities of the firm.They occur as a result of secondary activities.
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