K Alfred Hansen publishes an online travel blog. In need of cash, the business applies for a loan with National Bank. The bank requires borrowers to submit an income statement, st retained earnings, balance sheet, and statement of cash flows. With little knowledge of accounting, Alfred Hansen, a stockholder, does not know how to proceed. Requirements 1. Is there a specific order in which the financial statements must be prepared? 2. Explain how to prepare each statement. Requirement 1. Is there a specific order in which the financial statements must be prepared? Complete the table below to show the order in which each statement should be prepared. Order of Preparation Income statement Statement of retained earnings Balance sheet Statement of cash flows Requirement 2. Explain how to prepare each statement. Begin by selecting the items listed that pertain to preparing the income statement. (Complete all input fields.) Preparing the Income Statement Select the items listed that pertain to preparing the statement of retained earnings. (Complete all input fields.) Preparing the Statement of Retained Earnings

Afted Hansen publishes an online travel blog. In need of cash, the business applies for a loan with Notional Bank. The bank requires borrowers to submit an income statement, retained earnings, balance sheot, and statement of cash flows. With little knowlodge of accounting. Alfred Hansen, a stockholder, does not know how to proceed, Requirements 1. Is there a specifio order in which the financial statements must bo prepared? 2. Explain how to prepare each statement. Requirement 1. is thore a specific order in which the financial statemants must be prepared? Complete the table below to show the order in which each statement should be prepared. Requirement 2. Explain how to prepare each statement. Begin by solecting the items listed that pertain to preparing the income statement. (Complete all input fleids.)