On a multi-step income statement, which of the following is added to operating income to arrive at net income? a) sales revenue b) interest expense c) sales discount forfeited d) operating expenses Scott Enterprises has excess cash to invest and pays $200,000 to buy $200,000 face value, 8%, five year bonds of Hamilton Company bonds on July 1, 2018. The bonds are issued on July 1, 2018 and pay interest on June 30 and December 31. Scott will record interest revenue every six months for five years a) True b) False Question 49 (2 points) The Loss on Disposal of Equity Investments is reported in the a) other income and (expenses) section of the income statement Ob) stockholders' equity section of the income statement c) stockholders' equity section of the balance sheet d) losses section of the statement of retained earnings Question 50 (2 points) The rate of return on total assets measures a company's a) ability to meet its short-term obligations Ob) ability to repay its long-term debt c) success in using assets to earn income d) success in earning high returns on investments in stocks and bonds of other companies