A1 XV Accessibility tab summary: The financial information for Spensa Corporation is presented in rows 2 to 13. A statement for requirement is presented in rows 16 and 17 G H 1 ' K L M D 1 2 Spensa Corporation was established this year and had the following transactions 3 4. Issued common stock to investors (example) 5 b. Purchased Inventory on account Value: Value: $ 90,000 $ 23,000 6 c. Borrowed cash from a local bank 7 d. Sold merchandise to customers. Gross Profit on sale is 57.6% 8 e. Dividends were paid to common shareholders Value: Sales amount Dividends: $ 15,000 9 10 Purchased Land for cash Incurred selling expenses paying one fourth in cash and putting the remainder on account 11 h. Paid off the local bank loan and also paid 10% in interest 12 L Earned interest from the savings account at the local bank 13 Collected amounts owed from customers $ 12,500 57.6% $ 1,000 Value: $ 11,000 Amount $ 4,000 Loan: $ 5,000 10% Amount $ 500 Amount $ 2,000 14 26 27 30 20 33 2 AN ARRRRRRA 15 Required Complete the table in the spreadsheet for each transaction showing the effect on the balance sheet and income statement. Leave unaffected cells blank and use positive and negative numbers for increases and decreases. Be 16 sure to enter a formula to calculate column totals, the accounting equation, and net income. Note: Negative amounts or amounts to be deducted should be input and displayed as negative values. All other 17 answers should be input and displayed as positive values. 10 19 TIP: Create formulas for the Total row and the Accounting Equation before posting transactions. BALANCE SHEET Transaction 22 Assets Labilities 23 90,000 INCOME STATEMENT Stockholders' Equity Revenues Expenses 90,000 24 b. 25 c d 28 L 29 & h L Total Liabilities, Stockholders' Equity, Revenues, and 35 Assets 37 ARR Expenses Net income