all answers must be answered in formula

1. Solve for the missing amounts and understand how the financial statements are linked. 5 Paste Relationships among Financial Statements - Excel ES FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri - 11 96 M B TU- A Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles AI fo Presented below are incomplete financial statements for Marta Communications, A B D 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 MARTA COMMUNICATIONS, INC. Income Statement 10 For the Month Ended March 31, 20X1 11 Sales Revenues $34,500 12 Expenses: 13 Rent Expense 2,600 14 Wages Expense 15 Utilities Expense 4,800 Income Tax Expense 800 17 Net income $4,100 18 19 20 MARTA COMMUNICATIONS, INC. 21 Statement of Retained Earnings 22 For the Month Ended March 31, 20X1 23 Retained Earnings, March 1, 20X1 $0 24 Add: Net income Sheet1 8 9 16 8SN BE READY 100% fx Presented below are incomplete financial statements for Marta Communications, A B C D 18 19 20 MARTA COMMUNICATIONS, INC. 21 Statement of Retained Earnings 22 For the Month Ended March 31, 20X1 23 Retained Earnings, March 1, 20X1 $0 24 Add: Net income 25 Subtract: Dividends (500) 26 Retained Earnings, March 31, 20X1 27 28 29 MARTA COMMUNICATIONS, INC. 30 Balance Sheet 31 At March 31, 20X1 32 Assets Liabilities 33 Cash $3,400 Accounts payable 34 Accounts receivable Stockholders' Equity 35 Office supplies 2,300 Common stock 36 Land 12,000 Retained earnings 37 Total Assets Total Liabilities and Stockholders' Equity 38 39 40 41 Sheet1 $6,800 14,000 + 2 - Relationships among Financial Statements - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT ED Calibri - 11 M A A Paste B TU- % Alignment Number Conditional Format as Cell. Formatting Table Styles Styles Cells Editin - Clipboard Font A1 fr Presented below are incomplete financial statements for Marta C B D E F 18 19 20 NC 21 22 DX1 23 24 06 3 8 SO (500) 25 26 $6,800 27 28 29 MARTA COMMUNICATIONS, INC. 30 Balance Sheet 31 At March 31, 20X1 32 Liabilities 33 $3,400 Accounts payable 34 Stockholders' Equity 35 2.300 Common stock 36 12,000 Retained earnings 37 Total Liabilities and Stockholders' Equity 38 39 40 41 Sheet1 14,000 READY Attempt(s)