What is the function of the glycerol-3-phosphate shuttle in cellular respiration?

I - It produces NADH in the cytosol, which is then transported to the mitochondria.
II - It produces FADH2 in the cytosol, which is then transported to the mitochondria.
III - It produces ATP in the cytosol, which is then transported to the mitochondria.
IV - It produces pyruvate in the cytosol, which is then transported to the mitochondria.
a) Only I is correct.
b) Only II is correct.
c) Only III is correct.
d) Only IV is correct.
e) I and II are correct.