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Chapter 4 Excel Seved 1 1. Prepare and analyze a merchandiser's multi-step income statement X point Merchandising operations and the multi-step income statement Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT Sign in Shipped Calibri X B- Paste A A BIV- Font Alignment Number Conditional Formatas Cell Cells Editing Formatting Table Styles Styles Noodles Unlimited, Incsells swimming pool toys. The following adjusted trial Het A1 D E C 1 Noodles Unlimited, Insells swimming pool oys. The following adjusted trial balance 2 is for the year ended December 31, 20X1. 3 4 Account Titles Debits Credits 5 Cash $37.500 6 Accounts Receivable 28,600 7 Inventory 43,300 Prepaid Rent 2,000 9 Equipment 69,000 10 Accumulated Depreciation $20,700 11 Accounts Payable 8,800 12 Unearned Fees 20,000 13 Long-term Notes Payable 75.000 14. Noodle, Capital 31,800 151 Ela Banana 176 cl ME GE Proy 1 of 1 Next Type here to search o C Chapter 4 Excel Saved Clipboard Font 1 Formatung e se Styles Noodles Unlimited, Inc, sells swimming pool toys. The following adjusted trial A1 X D E 4 points Skipped etlook References B 1 Noodles Unlimited, Inc, sells swimming pool toys. The following adjusted trial balance 2 is for the year ended December 31, 20X1. 3 4 Account Titles Debits Credits 5 Cash $37,500 6 Accounts Receivable 28,600 7 Inventory 43,300 8 Prepaid Rent 2,000 9 Equipment 69,000 10 Accumulated Depreciation $20,700 11 Accounts Payable 8,800 12 Unearned Fees 20,0001 13 Long-term Notes Payable 75,000 14 J. Noodle, Capital 31,800 15 Sales Revenue 175,500 16 Sales Returns and Allowances 4,700 17 Sales Discounts 6,000 18 Cost of Goods Sold 67,700 19 Salaries and Wages Expense 25,900 20 Depreciation Expense 13,800 21 Rent Expense 24,000 22 Interest Expense 1,600 23 Loss on Sale of Equipment 2.700 24 Total 31 $331 Sheet1 READY 100% ME Law HI Prey 1 of 1 Next . Type here to search O 2 SD vo Clipboard Font HURE Styles 1 1 Noodles Unlimited, Inc. sells swimming pool toys. The following adjusted trial E . 4 points Skipped ebook References B D 14 Noodle, Capital 31,800 15 Sales Revenue 175,500 16 Sales Returns and Allowances 4,700 17 Sales Discounts 6,000 18 Cost of Goods Sold 67,700 19 Salaries and Wages Expense 25,900 20 Depreciation Expense 13,800 21 Rent Expense 24,000 22 Interest Expense 1,600 23 Loss on Sale of Equipment 7.700 24 Totals $331,800 $331,800 25 26 Required: 27 1. Prepare a multistep income statement that would be used for internal reporting purposes. 28 Note: When more than one correct account could appear in a cell, ist items in order of largest to 29 smallest dollar amounts. Use cell referencing to select account titles and values 30 All numbers should appear as positive numbers 31 2. After entering the formula in cell B52, use the Excel of function to label cell A52 as either 32 "Net Income" or "Net Loss as appropriate based on the value calculated in cell B52. 33 34 NOODLES UNLIMITED 25 Income Statement 36 For the Year Ended December 31, 20X1 37 Sheet1 READY 100 Me Graw Pill Prey 1 of 1 Next > Type here to search o A1 Styles Noodles Unlimited, Inc, sells swimming pool toys. The following adjusted trial D E nces B 38 Less 39 40 41 Net Sales 42 43 Gross Profit 44 Expenses: 45 46 47 48 Income from Operations 49 Other Expenses and losses 50 51 52 53 54 3. Compute the gross profit percentage. 55 Note: Make sure to include 100 at the end of your formula 56 in order to convert the decimal to a percentage. 57 Gross Profit Percentage 58 percent 60 Sheet1 -- READY 100 Prev 1 of 1 Next te to search