Question: Incorrect Question 39 0/0.4 pts When preparing the financial statements, why is the income statement prepared first? The income statement is used to prepare the

Incorrect Question 39 0/0.4 pts When preparing the financial statements, why is the income statement prepared first? The income statement is used to prepare the balance sheet. The income statement is the most important statement to investors and creditors. Net income or net loss from the income statement is used for the statement of retained earnings. The income statement is the easiest statement to prepare

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