Which of the following amounts would appear only in a multiple step income statement? A. Income from continuing operations B. Income from discontinued operations C. Gross profit on sales D. Net income What is a business segment? Why are gains and losses from a discontinued segment reported in a separate section of the income statement? How do horizontal analysis and vertical analysis of financial statements differ? What are trend percentages and how or they calculated? What pitfalls most financial statement users avoid when preparing trend percentages? What are common size financial statements and how are they used? During the past year, lite company had net income $5 million, and scanlon company had net income of $8 million. Both companies manufacture electrical components for the construction industry. What additional information would you need to compare that profitability of the companies