When Constructing Pro Forma Financial Statements, Which of the Following

When constructing pro forma financial statements, which of the following steps should be completed first?

A) Forecast next period's statement of financial position.
B) Determine the additional funds needed, AFN, to support expected growth.
C) Forecast next period's statement of comprehensive income.
D) Consider the impact of external financing on the additional funds needed (AFN) to determine how much additional interest or dividends must be paid to support expected growth-that is, consider financing feedbacks.
E) Determine whether the firm is operating above or below its operating breakeven point.