$4.$ Which financial statement shows a company's revenues and expenses over a specific period?

A$)$ Balance Sheet

B$)$ Statement of Cash Flows

C$)$ Income Statement

D$)$ Statement of Retained Earnings

$5.$ What is the accounting equation?

A$)$ Assets $=$ Liabilities $+$ Equity

B$)$ Assets $+$ Liabilities $=$ Equity

C$)$ Assets $=$ Revenue