A100 EXAM 2 IU ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

A100 EXAM 2 IU ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS income statement - Answer -revenues-expenses=net income detailed income statement - Answer -sales-cost of goods sold=gross profit-operating expenses=net income from operations+/-gain/loss on sale of assets=net income cash flow statement - Answer -beginning cash balance+/-net cash flows from operating/investing/financing activities=ending cash balance statement of retained earnings - Answer -beginning retained earnings+net income-dividends paid=ending retained earnings balance sheet - Answer -assets=liabilities+stockholders equity stockholders equity - Answer -common stock+ending retained earnings tax - Answer -income-deductions=taxable income*0.21=tax expensecredits/prepayments=amount owed/refunded net income/loss from taxes - Answer -taxable income-tax expense=net income/loss order of preparation - A