Question: When preparing the financlal statements, why is the income statement prepared first? A . The income statement is the easiest statement to prepare. B .

When preparing the financlal statements, why is the income statement prepared first?
A. The income statement is the easiest statement to prepare.
B. The income statement is used to prepare the balance sheet.
C. The income statement is the most important statement to investors and creditors.
D. Net income or net loss from the income statement is used for the statement of retained earnings
When preparing the financlal statements, why is the income statement prepared

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