A business will construct its financial statements in a particular order because they are interrelated. This means that items formulated in an earlier statement feed into the subsequent statements, and changes to items on one financial statement can have compounding effects on the overall financial position of a company. 1. Which of the following is one reason the statement of owner's equity is prepared after the income statement? 2. Which of the following is one reason the statement of owner's equity is prepared before the balance sheet?

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