66) The left and right columns on the financial statements are used for debits and credits.

Answer:TRUE OR FALSE

67) The amount for Cost of Goods Sold is found on the worksheet.

Answer:TRUE OR FALSE

68) The formal income statement can be prepared from the income statement columns of the worksheet.

Answer:TRUE OR FALSE

69) Gross profit minus Operating Expenses equals Net Income.

Answer:TRUE OR FALSE

70) The statement of owner's equity ending capital is equal to the capital on the worksheet.

Answer:TRUE OR FALSE