44 Sales Less: Cost of Goods Sold TEM ONE Less: Total Operating Expenses TEM TWO Plus: Other Income (Less: Other Expenses) TEM THREE What caption should replace ITEM TWO? a. Merchandise Inventory Ob. Income (Loss) from Operations c. Gross Profit d. Net Income (Loss) QUESTION 45 Which of the following are financial statements presented by corporations? Bank Reconciliation Income Statement Oa. Income Statement only b. Both Bank Reconcilliation and Income Statement Oc. Bank Reconciliation only Od. Neither Bank Reconcilliation nor Income Statement QUESTION 46 Which of the following are reported on the income statement? Supplies Inventory Dividends a. Both Supplies Inventory and Dividends Ob. Supplies Inventory only Oc. Dividends only d. Neither Supplies Inventory nor Dividends XXX xXxX XXXXXX XXX XXX XXXX