Accounting for IGCSE & O level - Final Statements (Section 6 - No. 17)
What is the general sequence of presenting an income statement?
Cost of Goods Sold, Sales, Gross Profit, Operating Expenses, Net Income
Sales, Cost of Goods Sold, Gross Profit, Operating Expenses, Net Income
Gross Profit, Sales, Cost of Goods Sold, Operating Expenses, Net Income
Operating Expenses, Sales, Cost of Goods Sold, Gross Profit, Net Income
Explanation
The usual order is: sales, then COGS to calculate gross profit, then operating expenses, to get to net income.
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