7. Which of the following is correct?

a. A statement of financial position contains information about how components of equity change during a period.

b. An entity is not allowed to aggregate its revenue into one single line on the Income Statement.

c. Entities must present their statement of comprehensive income, followed by the statement of financial position, statement of changes in equity, and, lastly, statement of cash flows.

d. Other comprehensive income items may turn a “loss” on the Income Statement into a

“profit” on the statement of comprehensive income.