Meg Malloy Is Running an Income Statement on Her QuickBooks

Multiple Choice

Meg Malloy is running an income statement on her QuickBooks computer accounting program. Which of the following accounts will be used to calculate gross profit?

A) Revenues, net sales, depreciation, and operating expenses
B) Revenues, general expenses
C) Revenues, cost of goods sold, tax expenses, net income before taxes
D) Revenues, cost of goods sold