Which of the following statements about the income statement is most correct? QA It reports the economic profitability of an organization. O B. It reports the financial status of an organization as of a single point in time. Oc. It has several alternative names, including the statement of liabilities and the statement of assets OD Income statements are always prepared annual, but never for shorter periods (e.g quarterty), Its three major sections are operating costs, nonoperating costs, and total (net) costs. E