pleas helpp

38)The basic format of an income statement is Select one: a. Assets - Liabilities = Profits b. Sales - Liabilities = Profits c. Sales - Expenses = Profits d. Income - Expenses = EBIT

39) In order to simplify the tax code, current regulations require that a dollar of income earned by a U.S. Corporation in the United States is taxed in the same way as a dollar of income earned by a U.S. Corporation in a foreign country.

Select one: True False