1. Prepare an income statement from a list of accounts. All answers must be entered as a formula. Click OK to begin. The list below shows select accounts for Reading Readiness Company as of January 31,201. (Accounts are in alphabetical order.) Required: 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references to select account titles and amounts to be included on the income statement. Note: List revenues and expenses in order of largest to smallest dollar amounts. Required: 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references to select account titles and amounts to be included on the income statement. Note: List revenues and expenses in order of largest to smallest dollar amounts. 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or "Net Loss" as appropriate based on the value calculated in cell C42