Why are the adjustments important to the preparation of the financial statements? (Check all that apply) Unadjusted financial statements will always show net income because the expense accounts have not been brought up to date. Adjustments ensure that the revenues earned and expenses incurred during the period are reflected in the income statement Adjustments ensure that the balance sheet reports all of the economic resources the company owns and all of the obligations the company owes Unadjusted financial statements could present a misleading and incomplete picture of the company's financial results