Financial statements are usually prepared in which sequence?

Financial statements are typically prepared in the following sequence: the Income Statement, which summarizes revenues and expenses to determine net income; the Statement of Retained Earnings, which reflects changes in equity; and the Balance Sheet, which presents the company's assets, liabilities, and equity at a specific point in time. Finally, the Cash Flow Statement is prepared to detail cash inflows and outflows from operating, investing, and financing activities. This sequence ensures that each statement builds on the information provided in the preceding ones.