Excel Exercise 1 B Page view A Read aloud V Dr Goal: Create an Excel worksheet...

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Excel Exercise 1 B Page view A Read aloud V Dr Goal: Create an Excel worksheet to prepare an income statement, a balance sheet and a statement of changes in equity for a start-up business. Scenario: You have started a valet parking business called First Class Valet. You have tracked your cash, supplies, revenues, expenses, and other items in a spreadsheet. The totals for each account at the end of your first month are as follows (ignore GST): 1. Sales Revenues, $400 2. Supplies on hand (asset account), $175 3. Cash, $300 4. Supplies expense, $225 5. Capital, 1 July 2019: $250 6. Salary payable, & Salary expense, $50. 7. Drawings: $20 8. Unearned revenue: $75. 9. Accounts receivable: $5 Required a) in a new worksheet, prepare an income statement, a balance sheet, and a statement of changes in equity for 31 July 2019. Your statements should show the result of the following: 1. How well did your business do in its first month of operations? 2. How did this affect your capital account? b) In a different worksheet draw a graph to visualise the financial performance of your company in an Excel spreadsheet. Hint. Your graphs could visualise the following ratios. 1. Expense to sales ratio 2. profit margin ratio c) provide a brief explanation about the financial performance of your company jul O ] Excel Exercise 1 B Page view A Read aloud V Dr Goal: Create an Excel worksheet to prepare an income statement, a balance sheet and a statement of changes in equity for a start-up business. Scenario: You have started a valet parking business called First Class Valet. You have tracked your cash, supplies, revenues, expenses, and other items in a spreadsheet. The totals for each account at the end of your first month are as follows (ignore GST): 1. Sales Revenues, $400 2. Supplies on hand (asset account), $175 3. Cash, $300 4. Supplies expense, $225 5. Capital, 1 July 2019: $250 6. Salary payable, & Salary expense, $50. 7. Drawings: $20 8. Unearned revenue: $75. 9. Accounts receivable: $5 Required a) in a new worksheet, prepare an income statement, a balance sheet, and a statement of changes in equity for 31 July 2019. Your statements should show the result of the following: 1. How well did your business do in its first month of operations? 2. How did this affect your capital account? b) In a different worksheet draw a graph to visualise the financial performance of your company in an Excel spreadsheet. Hint. Your graphs could visualise the following ratios. 1. Expense to sales ratio 2. profit margin ratio c) provide a brief explanation about the financial performance of your company jul O ]