Which of the following is not an item on the income statement? 1) operating expense O2) interest expense 3) cash flow from operations 4) cost of goods sold 5) depreciation expense Which project should be chosen? All have the same useful life. Project Payback period 3.2 B 4.2 2.3 D 4.5 E 5.1 IRR 19% 18% 21% 20% 17% NPV (in millions) $26 $20 S21 $24 $25 1) Project A 2) Project B 3) Project C 4) Project D 5) Project E