Four Financial Statements Are Usually Prepared for a Business

Multiple Choice

Four financial statements are usually prepared for a business. The statement of cash flows is usually prepared last. The statement of owner's equity (OE) , the balance sheet (B) , and the income statement (I) are prepared in a certain order to obtain information needed for the next statement. In what order are these three statements prepared?

A) I,OE, B
B) B, I, OE
C) OE, I, B
D) B,OE, I