I need someone to correct the excel spreadsheets according to the events on the word document

Android for Life Inc. On July 1, 2015, Andy incorporated her business under the name Android for Life, Inc. Listed below are various transactions that occurred during the remainder of the year: (a) On July 1, Andy purchased all of Android for Life common stock for $100,000 cash. (b) On July 1, Android for Life paid $3,000 to an attorney to prepare and file incorporation documents with the State of Texas. (c) On July 2, Android for Life borrowed $100,000 from a local bank. The bank note required payment of principal in four annual installments of $25,000 beginning on July 1, 2016. In addition, the note specified interest payments of 6%, with the first payment due on July 1, 2016. (d) On July 3, Android for Life signed a fiveyear lease on a building to be used as the veterinary clinic. The lease required a payment of $10,000 per month , payable on the first day of each month. Android for Life paid the amount for July on the date the lease was signed. (e) On July 5, Android for Life paid $150,000 for medical equipment, office furniture, and other equipment. (f) On July 6, Android for Life purchased various inventory items for $8,500 cash. (g) Also on July 6, Android for Life purchased $500 worth of office supplies for cash. (h) On July 28, Android for Life paid employees wages of $8,000 (which included Andy's salary of $6,000). (i) During July, Android for Life received $30,000 from clients for office visits and sales of merchandise (food, clothes, etc.). A review of Android for Life records at July 31, 2015, revealed the following: (j) Clients still owed Android for Life $3,500 for services performed during July but not yet billed. These amounts are expected to be billed and collected in August. (k) At the end of July, a physical count of inventory revealed that $1,000 of inventory was still onhand. (l) At the end of July, a physical count of office supplies revealed that $100 of supplies were still onhand. (m) Depreciation on the equipment for July was estimated to be $1,250. (n) Interest needs to be recorded on the note payable. Required: 1. Correct the recorded activity for Android for Life during July on the attached spreadsheet 2. Correct the balance sheet and income statement for Android for Life in July 2015 on the attached spreadsheet. 3. Is the large decline in cash a concern? Transaction a b c d e f g h i j k l m n TOTAL Cash 100,000 (3,000) 100,000 Accounts Receivable Inventory Assets Office Supplies Property, Plant & Equipment Liabilities Notes Interest Payable Payable Accumulated Depreciation Stockholders' Equity Common Retained Stock Earnings 100,000 (3,000) 100,000 (150,000) (8,500) (500) (8,000) 30,000 150,000 8,500 500 (8,000) (400) 30,000 3,500 (7,500) (400) (1,250) (500) 12,850 3,500 (7,500) 1,250 60,000 3,500 1,000 100 150,000 1,250 = 100,000 500 500 + 100,000 . Android Inc. Income Statement For the month ended July 31st, 2015 Revenues Sales and Revenues Less: Cost of goods Sold Gross Profit 33,500 (7,500) 26,000 Expenses Organizational Expenses Salaries Expense Office Supplies Expense Depreciation Expense Interest Expense TOTAL EXPENSE 3,000 8,000 400 1,250 500 13,150 NET INCOME 12,850 Android Inc. Balance Sheet As at July 31st, 2015 Assets: Current Assets Cash Accounts Receivable Inventory Office Supplies Total Current Assets Plant Property and Equipment Plant Property and Equipment Less: Accumulated Depreciation TOTAL ASSETS 60,000 3,500 1,000 100 64,600 150,000 (1,250) 148,750 213,350 LIABILITIES Notes Paybles Interest Payale TOTAL LIABILITIES 100,000 500 Shareholder's Equity Common Stock Retained Earnings TOTAL Shareholder's Equity 100,000 12,850 100,500 TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY Answer 3 112,850 213,350 A declining can be a cause of concern as all the company needs liquidity In order to sustain eeds liquidity In order to sustain the day to day operations