1. Prepare an income statement from a list of accounts. X] Preparing an income statement - Excel X 1 FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 AR K % Paste BIU Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 for The list below shows select accounts for Reading Readiness Company as of y B D E F G 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20x1. 2 (Accounts are in alphabetical order.) 3 4 6 7 8 9 10 11 12 13 Accounts Payable $ 8,088 Accounts Receivable 6,960 Cash 13,445 Equipment 4,800 Insurance Expense 1,350 Operating Expense 11,800 Other Expenses 3,482 Other Revenues 6,050 Rent Expense 4,800 Salaries Expense 6,882 Short-term Notes Payable 17,200 Test Prep Revenue 15,400 Tutoring Revenue 9,100 Unearned Revenue 1,046 18 19 Required: 20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 21 to select account titles and amounts to be included on the income statement. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 14 15 16 17 23 24 2. After entering the formula in cell 042, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1 1. Prepare an income statement from a list of accounts. XU Preparing an income statement - Excel ? el X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri - 11 % Paste BIU Cells Cell Styles Editing Alignment Number Conditional Format as Formatting Table Styles Clipboard Font