EA2-A1 Create Financial Statements for Titan Industries In this exercise, you will create a monthly income statement, statement of owners equity, and balance sheet in Excel for Titan Industries. Access the proper file. (Your starting file is intentionally blank.)

Using Project Grader: Download EA2-A1-FinancialStatements-eStart. Not using Project Grader: Open EA2-A1-FinancialStatements. With the exception of the William Buffalo, Capital, account (the balance of which is from 11/1/2026), the company had the following account balances as of 11/30/2026:

Accounts Payable $3,500 Accounts Receivable $7,000 Building $13,000 Cash $19,000 Equipment $10,000 Office Expense $6,200 Notes Payable $5,000 Repair Expense $2,500 Service Revenue $13,000 Supplies $1,000 Supplies Expense $700 Utilities Expense $1,800 William Buffalo, Capital 11/1/2026 $40,200 William Buffalo, Drawing $500 Set Up the Workbook Throughout this course, the appropriate approach is the one described in the chapter and used in preceding exercise sections. If you arent given the exact text to enter, setting to make, or other detail, turn back to the chapter for a refresher.

Three tabs, one named for each financial statement and arranged in the order of completion (Hint: For the statement name that wont fit, use the abbreviation O.E. as part of the tab name.) (PG-1) Range A1:A3 (on each tab): Enter the appropriate three-line header for the statement (1. company name, 2. financial statement name, 3. date expressed in proper form). (PG-2a) Bold formatting and this fill color: (PG-2b) zoom image Merge and center the header rows across columns AD (Income Statement) or columns AC (Statement of O.E., Balance Sheet). (PG-2c) Income Statement Location What to Enter Cells A5 and D5 Revenue account name (cell A5) and amount (cell D5) (PG-3a) Cell A7 Header: Expenses: (with the colon) (PG-3b) Ranges B8:B11 and C8:C11 In column B, the expense account names (largest to smallest); in column C, the amount for each expense account (PG-3c) Cells A12 and D12 The header Total Expenses and the amount of total expenses (PG-3d) Cells A13 and D13 Description Net Income or Net Loss (choose the correct one) and the amount of net income or net loss (PG-3e) Formatting:

Cells C11, D12, and D13: Apply the appropriate border. (PG-4a) Cell A15: Enter the text Office Expense was the largest expense for the month. and apply 10-degree orientation. (PG-4b) Row 15: Hide it. (PG-4c) Columns AD widths: 5, 16, 8, and 9, respectively (PG-4d) All amounts: Accounting number format, zero decimals (PG-4e) Statement of Owners Equity Location What to Enter Cells A5 and C5 Beginning equity account name (include date, as shown earlier) and amount (PG-5a) Cells A6 and C6 The description Net Income or Net Loss (choose the correct one) and the amount of net income or net loss (PG-5b) Cell C7 Subtotal of cells C5 and C6 (PG-5c) Cells A8 and C8 Name of the appropriate account and its associated amount (PG-5d) Cells A9 and C9 Ending equity account name (include date) and amount (PG-5e) Formatting:

Cells C6, C8, and C9: Apply the appropriate border. (PG-6a) Cells A5 and A9: Wrap the text to display the account names. (PG-6b) Columns AC widths: 25, 2, and 9, respectively (PG-6c) Set a height of 29 for the two rows requiring adjustment. (PG-6d) All amounts: Accounting number format, zero decimals (PG-6e) Balance Sheet Location What to Enter Cell A5 Header: Assets: (PG-7a) Ranges A6:A10 and C6:C10 In column A, asset account names in order of liquidity (Cash, Accounts Receivable, Supplies, Equipment, Building) and in column C, the associated amounts (PG-7b) Cells A11 and C11 The description Total Assets and its associated amount (PG-7c) Remember to add the appropriate borders to cells C10 and C11 (PG-7d), and to insert a line break where needed in the account name in cell A7. (PG-7e)

Location What to Enter Cell A13 Header: Liabilities: (PG-8a) Ranges A14:A15 and C14:C15 In column A, the liability account names (short- to long-term); in column C, the associated amounts (PG-8b) Cells A16 and C16 The description Total Liabilities and its associated amount (PG-8c) Cell A18 Header: Owners Equity: (PG-8d) Cells A19 and C19 Equity account name (no date) and its amount (PG-8e) Cell A21 and C21 The description Total Liabilities and Owners Equity and the associated amount (PG-8f) Hint: In this instance, the order of liabilities from short- to long-term is also the order from smallest to largest.

Formatting:

Cells A19 and A21 (account names): Use Wrap Text. (PG-9a) Cells C15, C19, and C21: Apply the appropriate border. (PG-9b) Ranges A6:A10 and A14:A15: Indent the account names one time. (PG-9c) Columns AC widths: 18, 10, and 11, respectively (PG-9d) Set a height of 29 for the three rows requiring adjustment. (PG-9e) All amounts: Accounting number format, zero decimals (PG-9f) Save and close the file.

Using Project Grader: Save the file as EA2-A1-FinancialStatements-eSubmission and attach it to the assignment you submit for grading. Not using Project Grader: Submit the file per your instructors guidelines. EA2-A2 Create Financial Statements for Metropolitan Corp. In this exercise, you will create a monthly income statement, statement of owners equity, and balance sheet in Excel for Metropolitan Corp. Access the proper file. (Your starting file is intentionally blank.)

Using Project Grader: Download EA2-A2-FinancialStatements-eStart. Not using Project Grader: Open EA2-A2-FinancialStatements. With the exception of the Terry Mattingly, Capital account (the balance for which is from 5/1/2026), the company had the following account balances as of 5/31/2026:

Accounts Payable $27,000 Accounts Receivable $24,000 Cash $57,000 Land $41,000 Maintenance Expense $17,000 Notes Payable $9,000 Printing Expense $11,000 Sales Revenue $23,000 Service Revenue $4,000 Supplies Expense $6,000 Tax Expense $13,000 Telephone Expense $10,000 Terry Mattingly, Capital 5/1/2026 $118,000 Terry Mattingly, Drawing $2,000

Set Up the Workbook Three tabs, one named for each financial statement and arranged in the order of completion. (Hint: For the statement name that wont fit, use the abbreviation O.E. as part of the tab name.) (PG-1) Range A1:A3 (on each tab): Enter the appropriate three-line header for the statement (1. company name, 2. financial statement name, 3. date expressed in proper form). (PG-2a) Bold formatting and the Green, Accent 6, Lighter 60% fill color: (PG-2b) zoom image Merge and center the header rows across columns AD (Income Statement) or columns AC (Statement of O.E., Balance Sheet). (PG-2c)

Income Statement Location What to Enter Cell A5 Header: Revenue: (PG-3a) Ranges B6:B7 and C6:C7 In column B, the revenue account names (largest to smallest); in column C, the associated amounts (PG-3b) Cells A8 and D8 The description Total Revenue and the amount of total revenue (PG-3c) Cell A10 Header: Expenses: (PG-3d) Ranges B11:B15 and C11:C15 In column B, expense account names (largest to smallest); in column C, the associated amounts (PG-3e) Cells A16 and D16 The description Total Expenses and the associated amount (PG-3f) Cells A17 and D17 The description Net Income or Net Loss (choose the correct one) and the amount of net income or net loss (PG-3g)

Formatting:

Cells C7, C15, D16, and D17: Apply the appropriate border. (PG-4a) Cell A19: Enter the text Sales Revenue was the largest revenue item for the month. and apply 15-degree orientation. (PG-4b) Columns AD widths: 5, 16, 8, and 9, respectively (PG-4c) All amounts: Accounting number format, zero decimals (PG-4d) Statement of Owners Equity Location What to Enter Cells A5 and C5 Beginning equity account name (include date, as shown earlier) and its amount (PG-5a) Cells A6 and C6 The description Net Income or Net Loss (choose the correct one) and the amount of net income or net loss (PG-5b) Cells A7 and C7 Name of the appropriate account and its amount (PG-5c) Cells A8 and C8 Ending equity account name (include date) and its amount (PG-5d) Formatting:

Cells C7 and C8: Apply the appropriate border. (PG-6a) Cells A5 and A8: Add a line break immediately after the comma to fully display the account names. (PG-6b) Columns AC width: 25, 2, and 9, respectively (PG-6c) Rows 5 and 8 height: 29 (PG-6d) All amounts: Accounting number format, zero decimals (PG-6e) Balance Sheet Location What to Enter Cell A5 Header: Assets: (PG-7a) Ranges A6:A8 and C6:C8 In column A, the asset account names in order of liquidity (Cash, Accounts Receivable, Land); in column C, the associated amounts (PG-7b) Cells A9 and C9 The description Total Assets and the amount of total assets (PG-7c) Add the appropriate borders to cells C8 and C9 (PG-7d); use Wrap Text in cell A7. (PG-7e)

Location What to Enter Cell A11 Header: Liabilities: (PG-8a) Ranges A12:A13 and C12:C13 In column A, the liability account names (short- to long-term); in column C, the associated amounts (PG-8b) Cells A14 and C14 The description Total Liabilities and the associated amount (PG-8c) Cell A16 Header: Owners Equity: (PG-8d) Cells A17 and C17 The equity account name (no date) and the associated amount (PG-8e) Cells A19 and C19 The description Total Liabilities and Owners Equity and the associated amount (PG-8f) Hint: In this instance, the order of liabilities from short- to long-term is also the order from largest to smallest.

Formatting:

Cell A19: Add a line break immediately after Liabilities. (PG-9a) Cells C13, C17, and C19: Apply the appropriate border. (PG-9b) Ranges A6:A8 and A12:A13: Indent the account names twice. (PG-9c) Columns AC widths: 18, 10, and 11, respectively (PG-9d) Set a height of 29 for the two rows requiring adjustment. (PG-9e) All amounts: Accounting number format, zero decimals (PG-9f)