Final answer:
The Second Continental Congress prepared for war, created a continental army, and moved towards independence with the Declaration of Independence after the king rejected the Olive Branch Petition.
Step-by-step explanation:
Once the king rejected their last petition, the Second Continental Congress began preparing for war. The Congress recognized the escalating conflict following the incidents at Lexington and Concord and understood that reconciliation with Britain was unlikely. They took several steps, including creating a continental army, appointing George Washington as commander-in-chief, and authorizing the release of paper currency to fund the war efforts.
Their last-ditch attempt at peace, the Olive Branch Petition, was rejected by King George III, who proclaimed the colonies in rebellion. This response, coupled with the knowledge that fighting had already begun, led the delegates to move towards independence, culminating in the drafting and declaration of the Declaration of Independence on July 4, 1776.