$26.$ Go to the Electronic Code of Federal Regulations $($www$.$ecfr.gov $)$ aWhat Part of Title $17($Code of Federal Regulations$-$CFR$)$ applies to the form and content and requirements for financial statements? b If a firm is filing consolidated balance sheets with the SEC for the first time and has only been in business less than a year, what are the requirements? Be sure to include the specific code section in your answer $.$