I know the answer is D for this question but I do not understand why it is d because I thought it was A. I thought it was A because Net Profits are credited in the Income Statement.

Question: The worksheet for Sharko Co. consisted of five pairs of dr. and cr. columns. The dollar amount of one item appeared in both the credit column of the income statement section and the debit column of the blanace sheet section. That item is

A) net income for the period

B) beginning inventory

C) cost of goods sold

D) net loss for the period