Get detailed and reliable answers to your questions with IDNLearn.com. Our experts are ready to provide prompt and detailed answers to any questions you may have.

What is the primary purpose of an income statement in financial reporting?
a) To summarize a company's assets and liabilities
b) To provide an overview of shareholder equity
c) To report the revenues, expenses, and net profit or loss of a business over a specific period
d) To analyze the cash flow activities of a company