Activities that are performed in the preparation of financial statements are listed below in random order. Number them to show the order in which they should be performed. As you select the correct order number, the cell will turn green. Steps to be performed to prepare financial statements: Order Activity Analyzing trial balance /considering unrecorded transactions 0 0 Preparing a balance sheet as of the period end date 0 Posting adjusting entries to general ledger 0 Preparing an unadjusted trial balance 0 Preparing adjusting journal entries for accruals, prepaids, etc. 0 Collecting information from documents and other sources 0 Preparing income statement for the period 0 Posting entries to general ledger accounts 0 Preparing adjusted trial balance 0 Preparing statement of retained earnings for the period 0 Recording in the form of journal entries What is the first step in the preparation of financial statements? Preparing income statement for the period Preparing adjusted trial balance Posting entries to general ledger accounts Collecting information from documents and other sources What is the 2nd step in the preparation of financial statements? Posting entries to general ledger accounts Recording in the form of journal entries Preparing adjusted trial balance Preparing statement of retained earnings for the period What is the 3rd step in the preparation of financial statements? Collecting information from documents and other sources Recording in the form of journal entries Preparing income statement for the period Posting entries to general ledger accounts What is step 4 in the preparation of financial statements? Analyzing trial balance /considering unrecorded transactions Posting adjusting entries to general ledger Preparing an unadjusted trial balance Posting entries to general ledger accounts What is step 5 in the preparation of financial statements? Preparing an unadjusted trial balance Posting adjusting entries to general ledger Analyzing trial balance /considering unrecorded transactions O Preparing adjusting journal entries for accruals, prepaids, etc. What is step 6 in the preparation of financial statements? O Preparing adjusted trial balance Posting adjusting entries to general ledger Preparing adjusting journal entries for accruals, prepaids, etc. Analyzing trial balance /considering unrecorded transactions What is step 7 in the preparation of financial statements? Preparing income statement for the period Posting adjusting entries to general ledger Preparing statement of retained earnings for the period Preparing adjusted trial balance What is step 8 in the preparation of financial statements? O Preparing statement of retained earnings for the period O Preparing adjusted trial balance Posting adjusting entries to general ledger Preparing income statement for the period What is step 9 in the preparation of financial statements? Preparing income statement for the period Recording in the form of journal entries Posting entries to general ledger accounts Preparing statement of retained earnings for the period What is step 10 and 11 in the preparation of financial statements? Non of the above Preparing income statement for the period and Then Posting adjusting entries to general ledger Preparing adjusted trial balance Preparing statement of retained earnings for the period and then Preparing a balance sheet as of the period end date