Which account(s) are found on an income statement? Select all that apply.

Step 1: Define the Problem

Identify which accounts are typically found on an income statement.

Step 2: Break Down the Problem

List the common components of an income statement.

Step 3: Apply Relevant Concepts

Understand the structure of an income statement, which includes:

• Revenues
• Expenses
• Gains
• Losses

Step 4: Analysis, Verify and Summarize

Analyze each component:

• Revenues: Sales revenue, service revenue, interest revenue, etc.
• Expenses: Cost of goods sold, operating expenses, interest expense, tax expense, etc.
• Gains: Profit from selling assets, etc.
• Losses: Loss from selling assets, etc.

Final Answer

Accounts typically found on an income statement include:

• Revenues
• Expenses
• Gains
• Losses