The following steps make up the steps in financial statement analysis.$$

$1.$ Identify the strategies the firm pursues to gain and sustain a competitive advantage.

$2.$ Analyze the current profitability and risk of the firm using information in the

$$ financial statements.

$3.$ Value the firm.

$4.$ Identify the economic characteristics and competitive dynamics of the industry in

$$ which a particular firm participates.

$5.$ Assess the quality of the firm$$s financial statements and, if necessary, adjust them for$$

$$ such desirable characteristics as sustainability or comparability.

$6.$ Prepare forecasted financial statements.$$

Which of the following is the proper order for these interrelated sequential steps?

$$

Group of answer choices

$4,1,5,2,6,3$

$1,2,3,4,5,6$

$4,6,2,5,1,3$

$1,4,2,5,3,6$