The income statement reports: a. Financial position on a specific date b. Results of operations on a specific date c. Results of operations for a specific period d. Financial position for a specific period

The correct answer is c. Results of operations for a specific period. An income statement, also known as a profit and loss statement, is a financial statement that reports a company's revenues and expenses over a given period of time, typically one year. It shows the financial performance of a company during that period and calculates the company's net income by subtracting expenses from revenues. Option a is incorrect because the financial position of a company is reported in the balance sheet, not in the income statement. Option b is incorrect because the results of operations on a specific date would be reported in a cash flow statement, not in an income statement. Option d is incorrect because the financial position for a specific period is reported in the balance sheet, not in the income statement. Therefore, option c is the correct answer because the income statement reports the results of operations for a specific period, which includes revenues, expenses, and net income.