Indicate Which Financial Statement Would Report the Items Listed in the Table

question 104

Essay

Indicate which financial statement would report the items listed in the table below.
Use the following code:
IS = Income statement
SE = Statement of changes in shareholders' equity
BS = Balance sheet
CF = Statement of cash flows
NONE = The item does not appear on any financial statement.

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Definitions:

Total Profit

The financial gain made in a transaction or over a period of time, which equals total revenues minus total costs.

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenues, representing the additional value created beyond all resource costs.

Accounting Profits

The total revenue of a company minus the explicit costs and depreciation expenses.

Total Costs

Total costs represent the complete sum of all expenses incurred by a business in the production of goods or services, including both fixed and variable costs.