First Accounting

First one the answer the simple accounting questions below get the points?

Identify the tow basic categories of items on an income statement

The income statement summarizes a company’s revenues (sales) and expenses quarterly and annually for its fiscal year.

The bottom line is often used as a reference to Net Income.

So, basically, the categories are:
Revenues – Expenses = Net Income

Multi:
Net Sales
Less: COGS
= Gross Income
Less: SG&A
= Operating Income
Less: Other Income & Expenses
= Pretax Income
Less: Taxes
= Net Income (after taxes)

Introduction to Financial Accounting W/ Free Study Materials