A company has these accounts in its financial records at the end of the year.

Capital stock

Cash

Land

Retained earnings

Inventory

Loans payable

Accounts payable

Which set is a list of all of the liabilities among these accounts?

A. Capital stock and retained earnings

B. Accounts payable and loans payable

C. Inventory, capital stock, and retained earnings

D. Inventory and retained earnings

What information is contained in an income statement?

A. Report of a company's operating performance during a period of time

B. Report of a company's operating performance as of a point in time.

C. Report of a company's financial position during a period of time

D. Report of a company's financial position as of a point in time