Rent expense appears on which of the following statements?

A) Balance sheet.
B) Income statement.
C) Statement of retained earnings.
D) Income statement and balance sheet.
E) Statement of cash flows and balance sheet.

Rent Expense

The cost incurred by a business to use property or equipment for business purposes.

Income Statement

A financial document that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net income.

Balance Sheet

A record that presents a summary of a business's assets, liabilities, and shareholders' equity at a given time.