List the major categories of accounts that appear on the income statement, and describe a typical heading for this statement: Select one: The Balance Sheet includes revenues, expenses and net income and the heading reveals that it is prepared as of a particular date. The Income Statement includes revenues, expenses and net income and the heading always represent a distinct period of time, usually either a month, a quarter or a year. The Balance Sheet includes assets, liabilities and owner's equity and the heading reveals that it is prepared as of a particular date. The Income Statement includes assets, liabilities and owner's equity and is prepared as of a particular date