Which of the following statements concerning a life insurance company's income statement is (are) correct? (Read Lecture note McG Ins Ch 19, page 19.8) I It sets forth both revenues and earnings for the accounting period. II It sets forth expenses incurred to provide products and services. III It sets forth a statement of the company's cash flows.

a) I only

b) I and II only

c) I and III only

d) II and III only

e) I, II, and III