The Following Information Is NOT Found on the Statement of Income

question 13

Multiple Choice

The following information is NOT found on the Statement of Income:

• A) EPS.
• B) Depreciation Expense.
• C) Future Income Taxes.
• D) Cost of Goods Sold.

---

Definitions:

Payroll Expense

The total amount of money a company pays to its employees as salaries and wages, including taxes and other deductions.

Depreciation Expense

The distribution of a physical asset's cost across its lifespan, mirroring its depreciation over time.

Tax Rate

The proportion of income or the value of a transaction that is collected by the government as tax, expressed as a percentage.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue, indicating the company's actual profitability.