2. The income statement measures the increase in the assets of a firm over a period of time A. True. B. False 3. Sales minus cost of goods sold is equal to earnings before taxes. A. True. B. False. 4. It is not possible for a company with a high profit margin to have a low operating profit. A. True. B. False. 5. A balance sheet represents the assets, liabilities, and owner's equity of a company at a given point in time. A. True. B. False. 6. The investments account includes marketable securities A. True. B. False. 7. The investments account represents a commitment of funds of at least one year or more. A. True. B. False