Formal financial statements can be prepared from the columns of a worksheet. Which of the following statements below are true regarding this process?
A) Revenues and expenses are reported on the income statement are taken from the adjustments columns.
B) The credit column of the income statement represent the expenses reported on the income statement.
C) The debit column of the income statement represent the expenses reported on the income statement.
D) The credit column on the balance sheet and statement of owner's equity columns represents the assets reported on the balance sheet.