Which of the following best describes the income statement?

Multiple Choice

A summary of the profit$-$generating activities of a company that occurred during a particular reporting period

A summary of the activities that caused cash of a company to change during a particular reporting period

The financial position of a company on a particular date

"A summary of the profit$-$generating activities of a company that occurred during a particular reporting period" and "a summary of the activities that caused cash of a company to change during a particular reporting period" both describe the income statement.