Four financial statements are usually prepared for a business. the statement of cash flows is usually prepared last. the statement of stockholders' equity (sse), the balance sheet (b), and the income statement (i) are prepared in a certain order to obtain information needed for the next statement. in what order are these three statements prepared?
i, sse, b
i, b, sse
b, i, sse
b, sse, i

You are the manager of a large crude-oil refinery. as part of the refining process, a certain heat exchanger (operated at high temperatures and with abrasive material flowing through it) must be replaced every year. the replacement and downtime cost in the first year is $165 comma 000. this cost is expected to increase due to inflation at a rate of 7% per year for six years (i.e. until the eoy 7), at which time this particular heat exchanger will no longer be needed. if the company's cost of capital is 15% per year, how much could you afford to spend for a higher quality heat exchanger so that these annual replacement and downtime costs could be eliminated?