32 "Net Income" or "Net Loss" as appropriate based on the value calculated in cell B52. NOODLES UNLIMITED Income Statement For the Year Ended December 31, 20X1 Less: 41 Net Sales 43 Gross Profit 44 Expenses: 48 Income from Operations 49 Other Expenses and Losses 54 Comnute the arnce nrofit nerrentace Shants Credits Debits $37,500 28,600 43,3001 2,000 69,000 4 Account Titles 5 Cash 6 Accounts Receivable 17| Inventory 8 Prepaid Rent 9 Equipment 10 Accumulated Depreciation Accounts Payable Unearned Fees 13 Long-term Notes Payable J. Noodle, Capital Sales Revenue 16 Sales Returns and Allowances 17 Sales Discounts 18 Cost of Goods Sold Salaries and Wages Expense 20 Depreciation Expense Rent Expense Interest Expense Loss on Sale of Equipment Totals $20,700 8,800 20,000 75,000 31,800 175,500 4.7001 6,000 67.700 25.900 13.800 24.000) 1.600 7.700 $331.800 $331,800 Excel SIM: Merchandising operations and the multi-step income statement 1. Prepare and analyze a merchandiser's multi-step income statement. 2 KUB 5 FILE . HOME Merchandising operations and the multi-step income statement - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW INSERT Sign X Calibri Paste B I U . - A Alignment Number Cells Editing Conditional Formatas Cell Formatting Table Styles Styles Clipboard Font B10 Credits 4 5 Account Titles Cash Accounts Receivable Inventory Prepaid Rent Debits $37.500 28.600 43.300 2.000 Prev 1 of 1 !!! !!! NO