For each of the following description choose the correct component and indicate if the component is reported on the balance sheet or income statement.

Description			Component		Balance Sheet or Income Statement
(a)	The increase in assets, or decrease in liabilities, resulting from business activities carried out to earn profit.		select a component: Revenues, Owner's Equity, Expenses, Assets, Liabilities, Profit		select a statement: Balance Sheet or Income Statement
(b)	Resources controlled by a business that have the potential to produce economic benefits.		select a component : Revenues, Expenses, Owner's Equity, Assets ,Profit, Liabilities		select a statement: Balance Sheet or Income Statement
(c)	The owner's claim on the residual assets of the company.		select a component : Assets, Liabilities, Profit, Expenses, Owner's Equity, Revenues		select a statement: Balance Sheet or Income Statement
(d)	Present obligations that are expected to result in an outflow of economic resources as a result of a past transaction.		select a component: Liabilities, Assets, Expenses, Profit, Revenues, Owner's Equity		select a statement: Balance Sheet or Income Statement
(e)	The cost of resources consumed or services used in the company's business activities.		select a component: Profit, Owner's Equity, Revenues, Expenses, Assets, Liabilities