Which of the following statements is incorrect?

a. Work sheets are useful aids in the accounting process.

b. On the work sheet, the effects of the accounting adjustments are shown on the account balances.

c. After the work sheet is completed, it can be used to help prepare the financial statements.

d. On the work sheet, the adjusted amounts are sorted into columns according to whether the accounts are used in preparing the unadjusted trial balance or the adjusted trial balance.

e. A work sheet is not a substitute for financial statements.