IS, Cash Flows, RE

Use the excel files to complete the instructions listed on each of the following five tabs: the Working Trial Balance tab, the BS Comparatives tab, the IS 12-31-17 tab, the 2017 Cash Flows tab, and the 2017 Statement of RE tab. A FEW ITEMS TO NOTE for the Working Trial Balance tab: If there are no debits or credits for any particular account in the Adjusting Entries or Closing Entries columns, delete the question marks from the appropriate cells and leave those cells blank. Under the Adjusted T/B and Post Closing T/B columns, each account should have just one entry. For example, under Adjusted T/B, Accounts Payable should have a blank Debit column and some amount in the Credit column. Under Post Closing T/B, Accounts Payable should have a blank Debit column and some amount in the Credit column. If an account has no balance in either the Debit or Credit column, indicate no balance by formatting the cell to show $0 as a dash in the cell of that accounts normal balance. For example, if Accounts Payable has a balance of $0, the normal balance for A/P is a credit balance, so the Credit column should show a dash. The cell values for the Adjusted T/B, Closing Entries, and Post Closing T/B debit and credit columns should be made with formulas. Do not type the values into these cells. You SHOULD type the values into the Adjustments debit and credit columns.

Silver Tone Partners, Inc. INCOME STATEMENT For the Year Ended December 31, 20117 4 Amount %Sales 5 SALES 7 COST OF GODS SOLD 9 GROSS PROFIT 10 11 OPERATING EXPENSES 12 13 14 15 16 17 18 19 20 21 22 Total Operating Expenses 23 24 Net Income 26 Instructions for the Income Statement (Excel Project): 27 28 29 30 A. Please prepare the Income Statement above by creating formulas that link data for the amount columns from the other financial statements B. Prepare the necessary formulas for the % of Sales column. C. Be sure that the columns foot (add up mathematically), using formulas Working Trial Balance BS Comparatives IS 12-31-17 2017 Cash Flows2017 Statement of RE Silver Tone Partners, Inc. INCOME STATEMENT For the Year Ended December 31, 20117 4 Amount %Sales 5 SALES 7 COST OF GODS SOLD 9 GROSS PROFIT 10 11 OPERATING EXPENSES 12 13 14 15 16 17 18 19 20 21 22 Total Operating Expenses 23 24 Net Income 26 Instructions for the Income Statement (Excel Project): 27 28 29 30 A. Please prepare the Income Statement above by creating formulas that link data for the amount columns from the other financial statements B. Prepare the necessary formulas for the % of Sales column. C. Be sure that the columns foot (add up mathematically), using formulas Working Trial Balance BS Comparatives IS 12-31-17 2017 Cash Flows2017 Statement of RE