Financial statement classification

Sort items onto the right statements.

Item 1 of 1

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Which items belong on the income statement?

Select every item that is reported on the income statement.

Quick lesson

The income statement

The income statement reports revenue minus expenses for a period. It answers: did the business make a profit? Owner drawings are not expenses and do not appear here.

A small example

Service Revenue	$4,000
Rent Expense	($500)
Wages Expense	($250)
Supplies, insurance, depreciation	($350)
Net income	$2,900

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How grading works

Answers are checked on our server against a fixed rubric: accounts, debit or credit side, amounts to the cent, and dates. Hints start with the smallest useful clue. Revealing the solution is allowed, but mastery requires a later unassisted success.