EA2-A2 Create Financial Statements for Metropolitan Corp. In this exercise, you will create a monthly income statement, statement of owner's equity, and balance sheet in Excel for Metropolitan Corp. With the exception of the Terry Mattingly, Capital account (the balance for which is from 5/1/2016), the company had the following account balances as of 5/31/2016. Accounts Payable $27,000 Sales Revenue $23,000 Accounts Receivable $24,000 Service Revenue $4,000 Cash $57,000 Supplies Expense $6,000 Land $41,000 Tax Expense $13,000 Maintenance Expense $17,000 Telephone Expense $10,000 Notes Payable $9,000 Terry Mattingly, Capital - 5/1/2016 $118,000 Printing Expense $11,000 Terry Mattingly, Drawing $2,000 1. Open a Blank Workbook and save the file in your Chapter 02 folder as: EA2-A2-Financialstatements-[YourName) 2. Set the workbook to contain a total of three tabs, one for each financial statement and arranged in the order they will be completed. 61 AC 3. In the range A1:A3 on each tab: the appropriate three-line header with bold form Accent 6, Lighter 60% fill color. Merge and center the header rows across columns A-D Income State columns A-C (Statement of OE and Balance Sheet) Enter Data Within the Income Statement 4. On the Income Statement tab, enter the data as described: In this cell or range: Cell AS Range B6:37 Range C6:07 Cell AB Cell DS Cell A10 Range B11:15 Range C11C15 Cell A16 Cell A17 Range D16.017 Enter the data for the: Header for revenues Revenue account names dargest to smallest Revenue account amounts Total revenue entry Total revenue amount Header for expenses Expense account names (argest to smallest) Expense account amounts Total expenses entry Net income or loss entry Amounts associated with cells A16 and A17 5. Apply the appropriate border to cells C7, C15, D16, and D17. 6. In cell A19, type a comment that indicates the largest revenue item and apply a 15% Orientation to the cell. 7. Apply the Accounting number format with zero decimal places to all amounts within the statement and apply appropriate column widths to columns A-D. Enter Data for the Statement of Owner's Equity 8. On the Statement of O.E. tab, enter the data as described: Cell C6 In this cell: Enter the data for the: Cell AS Beginning equity account name Cell C5 Beginning equity amount Cell A6 Net income or loss title Net income or loss amount Cell AZ Appropriate account name Cell C7 Amount associated with cell A7 Cell A8 Ending equity account name Cell C8 Ending equity amount 9. Apply the appropriate border to cells C7 and C8 and use line breaks to display the account names in cells A5 and A8. 10. Apply the Accounting number format with zero decimal places to all amounts 11. Apply appropriate column widths to columns A-C and appropriate row heights to rows 5 and 8 Enter Data Within the Balance Sheet 12. On the Balance Sheet tab, enter the data as described: In this cell or range: Enter the data for the Cell AS Asset header Range A6 A8 Asset account names in order of liquidity (Cash, Accounts Receivable, Land) Range C6 C8 Asset account amounts Cell A9 Total assets name Cell C9 Total assets amount 13. Apply the appropriate border to cells C8 and 29. 14. Wrap the text in cell A7. 15. Enter the data as described in this cell or range: Cell A11 Range A12:13 Range C12.013 Cell A14 Cell C14 Cell A16 Cell A17 Cell C17 Cell A19 Cell C19 Enter the data for the Liabilities header Liability account names from short-to long-term) Liability account amounts Total liability name Total liability amount Owner's equity header Equity account name Equity account amount Total liabilities and owner's equity name Total liabilities and owner's equity amount Hint: In this instance, the order of liabilities from short-to long-term is also the order from smallest to largest 16. Indent the account names twice in the ranges A6:A8 and A22:A13. 17. Apply the appropriate border to cells C13, C17, and C19 and add a line break to the entry in cell A19. 18. Apply the Accounting number format with zero decimal places to all amounts. 19. Apply appropriate column widths to columns A-C and appropriate row heights as needed. 20. Save and close your file