Question: Why is it necessary to complete the basic income statement prior to completing the statement of retained earnings? The statement of retained earnings requires total

Why is it necessary to complete the basic income statement prior to completing the statement of retained earnings?

The statement of retained earnings requires total equity from the income statement.

The statement of retained earnings requires cash flow from the income statement.

The statement of retained earnings requires the net income from the income statement.

The statement of retained earnings requires the total expenses from the income statement

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