Which one of the following is true about the income statement? a. Net income means total revenues are greater than total expenses b. Net loss means total expenses are less than total revenues c. Only...

Which one of the following is true about the income statement?

a. Net income means total revenues are greater than total expenses

b. Net loss means total expenses are less than total revenues

c. Only revenues are reported in the income statement

d. The income statement focuses only on the net loss