Using the classification scheme below for a multi step income statement, match each account in the image attached with the letter of the category in which it belongs.
|
Net sales |
Sales
discounts |
|
Cost of sales |
Cost
of goods sold |
|
Selling expenses |
Dividend
income |
|
General and administrative expense |
Advertising
expense |
|
Other revenues and expenses |
Freight
out expense |
|
Not on income statement |
Prepaid
insurance |
|
|
Utilities
expense |
|
Sales
salaries expense |
|
Rent
expense |
|
Depreciation
expense – delivery equipment |
|
Interest
expense |
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