Question

On which financial statement(s) can you find income before income taxes? Balance sheet Income Statement and Statement of St
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Answer #1

1. Answer: Income statement

Explanation:

'Income before income taxes' can be find in 'Income Statement' only.

It can not be find in 'Balance sheet', Statement of Stockholders' equity and Cash flow statement'

Thus, Option-v is correct and remaining options are incorrect.

.

2. Answer: Income statement, Statement of Comprehensive income, Cash flows statement and statement of stockholders' equity

Explanation:

Net income can be find in the following financial statements:

  • Income statement,
  • Statement of Comprehensive income,
  • Statement of Stockholders' equity and
  • Cash flow statement

Thus, Option iv is correct and remaining options are incorrect.

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