Excel Project FIN Ch. 1-3 i 3 Maple Moving Company has provided you its list of accounts and unadjusted balances as of December 31, Year 2, along with selected year-end data. The Controller has asked you to prepare an income statement and balance sheet for the year ended December 31, Year 2. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. . Cell Reference: Allows you to refer to data from another cell in the worksheet. In the Excel Simulation below, if "83" is entered in a blank cell, the formula outputs the result from cell 83, which is $62,500 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: (plus sign to add), (minus sign to subtract)." (asterisk sign to multiply), and/(forward slash to divide). In the Excel Simulation below, if-B3+B4" is entered in a blank cell, the formula adds the values from those cells and outputs the result, which is 229,660 in this example. If using the other math symbols, the result is an appropriate answer for the function. . SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. In the Excel Simulation below, if-SUM(B3,B4,B5)" is entered in a blank cell, the formula outputs the result of adding those three separate cells, which is 297,260 in this example. Similarly, if "-SUM(B3:B5)" is entered in a blank cell, the formula outputs the same result of adding those cells even though they are expressed as a range in the formula, so the result is 297,260 in this example, 8. Reporting adjusted account balances-Excel 200 6x Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calbr -11 A A % Alignment Number Conditional Format as Cell Formatting Table Styles Paste Cells Editing BIU. Cipho Fort G Styles Al 1 X S On December 31, Year 2, Maple Moving Company had the following balances A B C D E F GA 1 On December 31, Year 2, Maple Moving Company had the following balances before year-end adjustments: 2 Cash 62,500 167,160 4 Accounts Receivable 10 points ellock References ook 3 nces Clipboard Al X V f On December 31, Year 2, Maple Moving Company had the following balances D E C F G B A 1 On December 31, Year 2, Maple Moving Company had the following balances before year-end adjustments: 2 3 Cash $ 62.500 167,160 4 Accounts Receivable 5 Supplies 67,600 6 Prepaid Rent 42,240 7 Accounts Payable 37,500 8 Interest Payable 9 Wages Payable 10 Unearned Revenue 6,600 11 Notes Payable 100,000 12 Common Stock 66,000 13 Retained Earnings 23,400 14 Service Revenue 167,000 15 Wages Expense 61,000 16 Supplies Expense 17 Rent Expense 18 Interest Expense 19 20 Required: 21 Use the unadjusted account balances above and the following year-end data to 22 determine adjusted account balances and prepare an income statement and balance sheet. 23 Note: If nothing belongs in a cell, leave it blank. 24 Sheet1 4 Excel Project FIN Ch. 1-31 Al 3 10 points Seved On December 31, Year 2, Maple Moving Company had the following balances C D B G F B 19. 20 Required: 21 Use the unadjusted account balances above and the following year-end data to 22 determine adjusted account balances and prepare an income statement and balance sheet. 21 Note: If nothing belongs in a cell, leave it blank 24 25 Interest owed but not yet paid 10,800 26 Supplies on hand: 15,000 27 Rent expense 35,200 28 Unpaid wages earned by employees: 3.500 29 Unearned revenue that has been earned: 2,000 30 31 32 31 M4 35 Service Revenue 36 Expenses 37 Wages Expense 38 Supplies Expense 39 Kent Expense 40 Interest Expense 41 Net Income 42 READY Attempt(s) eBook Part References MAPLE MOVING COMPANY Income Statement at December 31, Year 2 Sheet1 100% Excel Project FIN 3 10 points eBook Print References Al fx On December 31, Year 2, Maple Moving Company had the following balances B D E F G Year 2 I A MAPLE MOVING COMPANY Balance Sheet at December 31. Year 2 44 45 46 47 48 Assets 49 Cash 50 Accounts Receivable 51 Supplies 52 Prepaid Rent 53 Total Assets 54 55 Liabilities 56 Accounts Payable 57 Interest Payable 58 Wages Payable 59 Unearned Revenue 60 Notes Payable 61 Total Liabilities 62 63 Stockholders' Equity 64 Common Stock 65 Retained Earnings 66 Total Stockholders' Equity 67 Total Liabilities and Stockholders' Equity Sheet1 READY Attempt(s) n 100 Hint