Homework Answers
Solution:
Operating Income: Operating income balance of income after meeting all its expenses. So There is sub-total in this calculation because operating income is balance income after meeting all its expenses. – This is not a correct option.
Income from continuing Operations before Taxes: This is balance before income taxes paid and after all the expenses incurred except income taxes. So this is also a sub-total in multi –step income statement.
Gross Profit: Gross Profit = Sales – Cost of Goods Sold. It means this is also a sub-total in multi –step income statement.
Interest Expenses: Interest expenses is a only component in expenditure and no total is added for this expenses. It means this option is correct.
Answer = Option B = Interest Expense
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