1. Solve for the missing amounts and understand how the financial statements are linked. xD El X Relationships among Financial Statements - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT Sign In Calibri 11 Paste BIU - AM % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font A1 fx Presented below are incomplete financial statements for Marta Communications, D B 1 Presented below are incomplete financial statements for Marta Communications, Inc. 2 3 Required: 4 Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on 5 another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus 6 indicating the relationship between the two statements. 7 8 MARTA COMMUNICATIONS, INC. 9 Income Statement 10 For the Month Ended March 31, 20X1 11 Sales Revenues $34,500 12 Expenses: 13 Rent Expense 2,600 Clipboard Font Styles A1 ... fi Presented below are incomplete financial statements for Marta Communications, B D 14 4,800 800 $4,100 A Salaries Expense 15 Utilities Expense 16 Income Tax Expense 17 Net income 18 19 20 21 22 23 Beginning Balance (March 1, 20X1) 24 Issuance of common stock 25 Add: Net income for March 26 Less: Dividends 27 Ending Balance (March 31, 20X1) 28 29 MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Retained Earnings $0 $14,000 $0 Total $0 $14,000 4,100 (500) $17,600 (500) $14,000 30 33 MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 20X1 Liabilities $3,400 Accounts payable Stockholders' Equity 2,300 Common stock 12,000 Retained earnings Total Liabilities and Stockholders' Equity 31 32 Assets Cash Accounts receivable 35 Supplies 36 Land 37 Total Assets $6,800 34 14,000