(L.OBJ. 5) Explaining the items on a corporate income statement [10 min]
Consider a corporate income statement.
Requirements
1. How do you measure gross profit?
2. What is the title of those items chat are both unusual and infrequent?
3. Which income number is the best predictor of future net income?
4. What is the “bottom line”?
5. What does EPS abbreviate?
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