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dusya [7]
3 years ago
13

In the multiple-step income statement, cost of merchandise sold is subtracted from a.selling expenses. b.sales. c.gross profit.

d.operating expenses.
Business
1 answer:
zalisa [80]3 years ago
3 0

Answer:

b.sales

Explanation:

As we know that

Income statement refers to the statement in which the revenues and the expenses incurred should be recorded

While on the other hand the multiple-step income statement refer to the statement in which there are various level like gross profit, total operating expenses etc

Plus we also know that

Gross profit = Sales - cost of goods sold

Therefore the cost of merchandise should be deducted from sales so that we can find out the gross profit

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umka21 [38]

Answer:

the future value of the cash flow in year 4 is $5,632.73

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The same is to be considered and relevant  

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