D E Forinula: Add; Cell Referencing F G BE4.11 - Using Excel to Calculate Income Amounts PROBLEM 5. On January 1, 2020, Richards Inc. had no other asset, liability, or 6 equity balances than those listed below. 7 Cash $ 60,000 Common stock 60,000 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use cell references with mathematical formulas to calculate all amounts. 8 Determine the following amounts for 2020 (a) Net income (b) Comprehensive income 10. Transactions that occurred during 2020 pertaining to debt 11 securities classified as available for sale include 12 13 Cash purchase cost of the debt securities 14 Received interest on the securities $20,000 15 Unrealized holding gain net of tax 3,000 4,000 16 17 18 19 20 (C) Other comprehensive income (d) Accumulated other comprehensive income at the end of 2020 D E Forinula: Add; Cell Referencing F G BE4.11 - Using Excel to Calculate Income Amounts PROBLEM 5. On January 1, 2020, Richards Inc. had no other asset, liability, or 6 equity balances than those listed below. 7 Cash $ 60,000 Common stock 60,000 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use cell references with mathematical formulas to calculate all amounts. 8 Determine the following amounts for 2020 (a) Net income (b) Comprehensive income 10. Transactions that occurred during 2020 pertaining to debt 11 securities classified as available for sale include 12 13 Cash purchase cost of the debt securities 14 Received interest on the securities $20,000 15 Unrealized holding gain net of tax 3,000 4,000 16 17 18 19 20 (C) Other comprehensive income (d) Accumulated other comprehensive income at the end of 2020