The income statement should be prepared a. after the retained earnings statement and before the balance sheet b. after the retained earnings statement and balance sheet c. before the retained earnings statement and balance sheet d. after the balance sheet and before the retained earnings statement

The correct option is C

Explanation:

Income statement is the one which states the core financial statements of the company which shows the profit and loss. And the profit and loss statement states the ability of the company for generating sales, create profits and manage expense.

It is that statement which to be prepared first, as in prepared before the retained earnings statement and the balance sheet statement.

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o