Distinguish between the income statement of a service company and a merchandising company. Identify at least two critical items of a multistep income statement of a merchandising company that are useful to creditors. Provide a rationale for your response.

The two important items are the cost of goods sold and the gross profit

The income statements of service and merchandising companies differ in the treatment of stock. Whereas service companies do not have stock, merchandising business is centered around inventory that’s the acquisition and resale of stock.

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Distinguish between the income statement of a service company and a merchandising company. Identify at least two critical items of a multistep income statement of a merchandising company that are useful to creditors. Provide a rationale for your response.

The two important items are the cost of goods sold and the gross profit

The income statements of service and merchandising companies differ in the treatment of stock. Whereas service companies do not have stock, merchandising business is centered around inventory that’s the acquisition and resale of stock.

For high quality Essay Writers especially for Big Projects contact us on USRESEARCHWRITERS.COM. Get your contents here…100% human.