Which of the following statements is correct for revenue and expense accounts? all expense accounts are shown on the Income Statement except the Cost of Goods Sold account some of the revenue and expense account balances are used to prepare the Income B Statement, and some of the revenue and expense account balances appear on the Balance Sheet all of the revenue and expense account balances are used to prepare the Income Statement the beginning balance in the Retained Earnings account, and all of the revenue and expense account balances, are used to prepare the Income Statement none of the above statements are correct