What financial statement reflects the income and expenses of a farm over a specific period?

Correct option is C

Income Statement (also known as the Profit and Loss Statement) is the financial statement that summarizes a farm's revenues and expenses over a specific period, such as a fiscal year. It provides insights into the farm's profitability by showing the net income or loss during that period.

Balance Sheet provides a snapshot of the farm's assets, liabilities, and equity at a specific point in time, not over a period.

Cash Flow Statement tracks the cash inflows and outflows over a period, detailing how cash is generated and used, but it doesn't directly show profitability.