ses/434029/quizzes/3606794/take Question 5 What is the purpose of the income statement? To summarize all changes in assets and liabilities for an accounting period To summarize all financing and investing activities for an accounting period O To summarize financial position at the end of an accounting period To summarize the results of operations for an accounting period Question 6 Retained earnings refers to O Cash and other assets O None of the other choices are correct. Common stock that the firm can distribute as dividends O The amount of net income retained in the corporation 5 pts 5 pts