Which of the following is not part of the income statement?

The income statement is a financial document that summarizes a company's revenues, expenses, and profits over a specified period. The primary components included in an income statement are revenue, expenses, and net profit.

Revenue is the total income generated from normal business operations, while expenses reflect the costs incurred in generating that revenue. The net profit is the remainder after all expenses have been subtracted from revenue, indicating the profitability of the business.

Fixed costs, on the other hand, refer to ongoing expenses that do not change with the level of production or sales. While fixed costs may be a factor in calculating total expenses, they are not a standalone line item on the income statement. Instead, they contribute to the total expenses category. Thus, fixed costs are not typically listed as a separate component on the income statement, making the correct choice the one that indicates fixed costs are not part of the income statement.