income statement for assignments

fort FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sanna Calor Paste A Alignment Number Conditional Formatas Cel Cells ting Formatting Table Styles Clipboard Sy The list below shows select accounts for Reading Readiness, Inc. as of January 31. B D E F The list below shows select accounts for Reading Readiness, Inc. as of January 31, 20X1. 2 (Accounts are in alphabetical order.) 4 $ 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Accounts Payable Accounts Receivable Cash Equipment Income Tax Expense Operating Expense Other Expenses Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Uneared Revenue 8.088 6.900 13.445 4800 1,350 11.800 3.482 6 DSO 4,800 6.882 17200 15.400 9.100 1046 Required: 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references to select account titles and amounts to be included on the income statement. Note: List revenues and expenses in order of largest to smallest dollar amounts. 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" "Net Loss" as appropriate based on the value calculated in cell C42. READING READINESS, INC. Income Statement For the Month Ended January 31, 20X1 Revenues: Total Revenues Expenses: Total Expenses