The first financial statement prepared after the adjusted trial balance is:

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The first financial statement prepared after the adjusted trial balance is the income statement. This statement shows the company's revenues, expenses, and net income or loss for a specific period. The balance sheet and statement of cash flows can also be prepared after the adjusted trial balance, but the income statement typically comes first. The statement of retained earnings is prepared after the income statement and shows how the company's net income has been distributed between dividends and retained earnings.

The First Financial Statement Prepared After the Adjusted Trial Balance