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Styes B31 B D E F 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. 2 (Accounts are in alphabetical order.) 3 4 $ 5 6 7 8 9 10 Accounts Payable Accounts Receivable Cash Equipment Insurance Expense Operating Expense Other Expenses Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 11 8,088 6,960 13,445 4,800 1,350 11,800 3,482 6,050 4,800 6,882 17,200 15,400 9.100 1,046 12 13 14 15 16 17 18. 19 Required: 20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 21 to select account titles and amounts to be included on the income statement. 22 Note: List revenues and expenses in order of largest to smallest dollor amounts. 23 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1 READY -- + Attempt(s) 3/3 + 100% Hint Prey 1 of 1 BO 10 Next search O gi a O 1. Prepare an income statement from a list of accounts. XDS. Preparing an income statement - Excel ? FILE PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In HOME INSERT X Calibri EB- BIU - 11 % ht 18 Paste - A Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font B31 v B A B D E F 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or 25 "Net Loss" as appropriate based on the value calculated in cell C42. 26 27 READING READINESS Company 28 Income Statement 29 For the Month Ended January 31, 20X1 30 Revenues: 31 32 33 34 Total Revenues Expenses: 35 36 37 3B 39 40 41 Total Expenses 42 43 44 45 46 Sheet1 + Prey 1 of 1 H. Ne earch O a