ASSIGNMENT 1 Lally Limited is the only manufacturer of automatic carwash machine parts in SA. The following information has been extracted from the records of Lally Limited for the year ended 31 October 2022 and 2021 You are required to: 1. Create Lally Limited income statement and balance sheet using formulas wherever possible. 2. Using Excel's outlining feature create an outline on the balance sheet that when collapsed shows only the subtotals for each section. 3. The following formatting should be followed in the Lally Ltd financial statements workbook: - Each statement should be on a separate worksheet. Improve the readability of the data by using the format explained on page 5053 (chapter 2 pdf file) so that Excel will display the numbers as if they had been divided by 1000 and indicate so. - Each worksheet has to be named accordingly. - Heading and body should be using time new roman font with body using font 11 and 14 for headings - Heading should be bold, italic, merged and centered, middle aligned - All expenses line item should have an indent of 1 - Company name and financial statement name should be filled with background color Blue, Accent 1 , lighter 40% and Dates should be filled with Blue, Accent 1 . ASSIGNMENT 1 Lally Limited is the only manufacturer of automatic carwash machine parts in SA. The following information has been extracted from the records of Lally Limited for the year ended 31 October 2022 and 2021 You are required to: 1. Create Lally Limited income statement and balance sheet using formulas wherever possible. 2. Using Excel's outlining feature create an outline on the balance sheet that when collapsed shows only the subtotals for each section. 3. The following formatting should be followed in the Lally Ltd financial statements workbook: - Each statement should be on a separate worksheet. Improve the readability of the data by using the format explained on page 5053 (chapter 2 pdf file) so that Excel will display the numbers as if they had been divided by 1000 and indicate so. - Each worksheet has to be named accordingly. - Heading and body should be using time new roman font with body using font 11 and 14 for headings - Heading should be bold, italic, merged and centered, middle aligned - All expenses line item should have an indent of 1 - Company name and financial statement name should be filled with background color Blue, Accent 1 , lighter 40% and Dates should be filled with Blue, Accent 1