All of the following statements regarding the Income Statement columns on the worksheet are true except:
B.ThebalancesintheIncomeStatementcreditcolumnareunearnedrevenues.
C.ThebalancesintheIncomeStatementdebitcolumnareexpenses.
D.ThedifferencebetweenthetotalsoftheIncomeStatementcolumnsisnetincomeornetloss.
E.ThenetincomeornetlossfromtheIncomeStatementcolumnsisenteredintheBalanceSheet﹠StatementofOwner’sEquitycolumns.