Income statements for corporations are the same as the statements for proprietorships except for the reporting of

A) gross profit.
B) income from operations.
C) income tax expense.
D) other revenues and gains.

Income Statements

Financial statements that show a company's revenue, expenses, and profit over a specific period.

Proprietorships

A type of business entity that is owned and run by one individual and where there is no legal distinction between the owner and the business.

Income Tax Expense

The amount of money a company is obligated to pay in income taxes, based on its taxable income for a specific period.