Yes you do, there is no specific area that it must go under allowing companies to charge depreciation based on what categories the assets cone under (cost of sales, admin expenses, distribution...
Prepaid expenses do not go on the income statement as they are classified as assets. They are amortized over the time period being paid for.
Example: If you prepaid $600 dollars for 6 months rent....
An expense such as rent, utilities, insurance goes on the income statement because it is an expense that occurs to operate the business and it affects the net income of said business. If I have an...