Liabilities of a company are owed to a. debtors. b. owners. c. creditors. d. stockholders. 2) Dividends are reported on the a. income statement. b. retained earnings statement. c. balance sheet. d. income statement and balance sheet. 1) When expenses exceed revenues, which of the following is true? a. a net loss results b. a net income results c. assets equal liabilities d. assets are increased