A business wants to assess its profitability by understanding how much a sales from one operation better considering non-operating cars etc. Which section of a multi-step income statement provides this information?

Cost of goods sold (COGS) represents the direct costs attributable to the production of the goods sold in a company. While it is essential for calculating gross profit, it does not encompass the overall profitability of operations as it only accounts for production costs without considering operating expenses or revenues from those operations.

Gross revenue refers to the total income generated from sales before any deductions for expenses. While it indicates total sales performance, it does not provide a complete view of profitability as it lacks consideration of operating expenses, taxes, and other non-operating items that impact net income.

Net income represents the total profit of the business after all expenses, including operating and non-operating costs, have been deducted from total revenue. Although it reflects overall profitability, it does not specifically isolate income from core business operations, making it less useful for assessing operational performance alone.