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apter 2 Excel Saved 2 1. Solve for the missing amounts and understand how the financial statements are linked. Relationships among Financial Statements. Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW ? X FILE HOME INSERT Sign in Calbe A -Book BIU- rences 96 Alignment Number Conditional Format Coll Formatting Table Styles Styles Ing Clipboard Font AI Presented below are incomplete financial statements for Marta Communications, A B c D 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 IO For the Month Ended March 31. 20X1 11 Sales Revenues $34,500 12 Expenses 13 Rent Expense 2.600 8 0 2Fhowconnect meduca ter 2 Excel Saved 2 Book rences 13 Rent Expense 2,600 14 Wages Expense 15 Utilities Expense 4.800 16 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 SO 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 Sheet1 $6,800 14.000 READY Attempt(s) 100