please answer all 3

Select one: O a. Adjusting entries are not prepared, since adjustments are shown on the worksheet. O b. Revenue and expense accounts do not have to be closed to the Income Summary account, because the income sta is prepared from the worksheet and net income is already computed. O c. Financial statements may be prepared before recording adjusting and closing entries in the accounting records. O d. The Income Statement column and Balance Sheet column of the worksheet eliminate the need to prepare formal finan statements for a business. The ledger is a chronological, day-by-day, record of business transactions. Select one: True False The balance in Income Summary: Select one: O a. Should equal retained earnings. O b. Will always be equal to the increase in retained earnings. c. Will equal net income less dividends. d. Will equal net income or net loss