DS Directions: 16. Make sure that you downloaded the incomestatement file from Blackboard 17. Upload it to Office 360 and open it with Microsoft Excel 18. In Cell B2, type your name (If your name is John Smith, type John Smith) 19. In Cell B3, type For the Month Ending June 30, 2020 20. Go back to Cell B3, and replace June 30, 2020 with the last day of the current month 21. Go to the following cells and enter the following formulas or functions: Cell Formula or Function =C6+C7 DI8 SUM(CII:C18) D20 =D8-D18 D49 the sum function that would enable you to add Cells C23 to C48 D51 the formula that would enable you to subtract Cell D49 from D20 D56 the sum of Cells C54 and C55 D58 The Net Operating Income + Total other Income 22. Change the Sales Retums and Allowances in C7 to -1000 23. Enter the Ending Inventory (Cell C17) of -1728.45 24. Look at the Net Income (or Loss) in Cell D58. Type 2910.10 into Cell C54 and see what effect it has on the bottom line. 25. What would happen if you had a rent of 12000? Record it 26. Display the formula View of the spreadsheet (CTRL -) 27. Print the active sheet as a PDF. and download it to your device for submission to the instructor on Blackboard. Use the file name, Income Statement, followed by your first and last name 5 145 000.00 $ 1.000.00 S 15.000.00 5 5 000 00 $ 250.00 S 500.00 $ 45.00 $ 20.795 00 $ 5 5 $ $ 200.00 4.00 20.00 10.00 50.00 1 Income Statement 1 Nar 3 Time Period 4 5 Revenue 5 Gross Sales 7 Less: Sales Returns and Allowances 8 Net Sales 9 10 Cost of Goods Sold 11 Beginning inventory 12 Add Purchases 13 Freight 14 Direct Labor 15 Indirect Expenses 16 Inventory Available 17 Loss Ending Inventory 18 Cost of Goods Sold 19 20 Goss Prot (LOSS 21 22 Expenses 23 Advorsing 24 Amortization 25 Bad Dots 26 Bank Charges 27 Chantable Contributions 28 Commissions 29 Contract Labor 30 Depreciation 31 Dues and Subscriptions 32 Employee Benett Programs 33 Insurance 34. Interest 35 Legal and Professional Fees 36 Licenses and Fees 37 Miscellaneous 38 Omce Expense 39 Payroll Taxes 40 Postage 41 Rent 42 Repairs and Maintenance 43 Supplies 44 Telephone 45 Travel 46 lites 47 Vehicle Expenses 48 Wages 49 Total Expenses 30 51 Net Operating Income 52 53 Other income 54 Gain (Losson Sale of Assets 55 interest income 56 Total One income 57 58 No come Loss! 59 $ 31.00 5 200.00 s 150.00 s $ 150.00 2 000.00 $ 5.000.00 s 10.00