accounting excel

Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area wall be eraded, but it will be submitted with your assignment. Colculating Liquidity, Solvency, and Profitability Ratios Games Galore has provided its condensed financial statements for the year ended December 31 . The Controller has asked you to calculate liquidity, solvency, and profitability ratios that management can use decision making Here are some tips for using Excel: - Cell Reference: Allows you to refer to data from another cell in the worksheet. If you entered " =85 into a blank cell, the formula would output the value from cell B5 - Bosic Math Functions: Allow you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add). - (minus sign to subtract), "(asterisk sign to multiply), and / (forward slash to divide). For example, if you entered =B4+B5 in a blank cell, the formula would add the values from those cells and output the result. - ROUND Function; Allows you to round a number or resuit of a formula calculation to a specific number of digits. The syntax of the ROUND function is "=ROUND(numbernum_digits)" and it rounds the result of your formula to a particular number of digits The number argument can be a cell reference to either a number or to a formula that results in a number. The num_digits argument is the number of digits you want to round. The num digits value rounds based on mathematical rounding rules, where anything below 5 will round down and anything 5 and above rounds up. The num_digits value should be o positive value to round to any number of decimal places, while a negative value would round to the left of the decimal place, and a zero would round to the nearest whole number. If you entered"1,253.5693" into a cell, it could be used in the ROUND function in another cell, as the number reference In this example, if the value in cell A1 should be rounded to 2 decimal places, in a new cell, the function would be written as "ROUND(A1.2)" and would result in as 1.253.57. If the number in cell A1 should be rounded to the nearest hundred place, in a new cell the function would be written as "-ROUNO(A1.-2)", resulting in 1,300. 1. Use the Open Excel in New Tab button to launch this question. 2 When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. Condensed financial statements for Games Galore are summarized below: \begin{tabular}{|c|c|c|} \hline Balance Sheet & 2022 & 2021 \\ \hline Cash & $185,000 & $143,000 \\ \hline Accounts Receivable, Net & 80,000 & 59,000 \\ \hline Inventory & 104,000 & 134,000 \\ \hline Prepaid Insurance & 11,900 & 5,880 \\ \hline Total Current Assets & 380,900 & 341,880 \\ \hline Property and Equipment, Net & 514,500 & 407,000 \\ \hline Total Assets & $895,400 & $748,880 \\ \hline Current Liabilities & $85,300 & $96,800 \\ \hline Long-term Liabilities & 284,000 & 224,000 \\ \hline Total Liabilities & 369,300 & 320,800 \\ \hline Contributed Capital & 299,000 & 299,000 \\ \hline 5 Retained Earnings & 227,100 & 129,080 \\ \hline Total Stockholders' Equity & 526,100 & 428,080 \\ \hline Total Labilities and Stockholders' Equity & $895,400 & $748,880 \\ \hline \end{tabular} Income Statement 1 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations 26 Interest Expense 27 Income before income Tax Expense 28 income Tax Expense 29 Net income