2 The purpose of the income statement is to show the: net income or net loss for the period. revenues collected during the period market value of stock. change in the fair market value of the assets. Question 3 Which of the following best describes a revenue? Revenues reflect increases in assets from selling a product or providing a service Revenues reflect increases in net assets from occasional sales of equipment. Revenues reflect increases in the cash asset due to cash receipts. OOO Revenues reflect increases in net assets from selling common stock. 3.5 pts 3.5 pts