Marta Communications, Inc. has provided incomplete financial statements for the month ended March 31. The Controller has asked you to help calculate the missing amounts in the incomplete financial statements. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. . Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, "-B11" was entered, the formula would output the result from cell B11, or $34,500 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add),- (minus sign to subtract), " (asterisk sign to multiply), and/ (forward slash to divide). From the Excel Simulation below, if in a blank cell -815+816" was entered, the formula would add the values from those cells and output the result, or 5,600 in this example. If using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell "SUM(815,816)" was entered, the formula would output the result of adding those two separate cells, or 5,600 in this example. Similarly, if in a blank cell "SUM(B15:816)" was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 5,600 in this example. t 0 nces 1 H5.2. Relationships among Financial Statements - Excel Sign In DATA REVIEW VIEW FORMULAS INSERT PAGE LAYOUT FILE HOME Ruler Formula Bar a Normal Page Break Page Custom Gridlines Headings Zoom 100 % Zoom to Window Macros Selection Preview Layout Views Show Workbook Views Macros Zoom V Al V X f. Presented below are incomplete financial statements for Marta Communications, A C D 1 Presented below are incomplete financial statements for Marta Communications, Inc. 2 3 Required: 4 Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on 5 another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus 6 indicating the relationship between the two statements. 7 8 MARTA COMMUNICATIONS, INC. Income Statement For the Month Ended March 31, 20X1 $34,500 2,600 4,800 800 $4,100 MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Total $0 $14,000 9 10 11 Sales Revenues 12 Expenses: 13 Rent Expense 14 Salaries Expense 15 Utilities Expense 16 Income Tax Expense 17 Net income 18 19 20 21 22 23 Beginning Balance (March 1, 20X1) 24 Issuance of common stock Sheet1 *** *** READY Attempt(s) Retained Earnings E E A n $0 X $0 $14,000 4 100% Hint 85. 4 READY FILE HOME INSERT Normal Page Break Page Custom Preview Layout Views Workbook Views Al V x 17 Net income 18 19 20 21 22 23 Beginning Balance (March 1, 20X1) 24 Issuance of common stock 25 Add: Net income for March 26 Less: Dividends 27 Ending Balance (March 31, 20X1) 28 29 30 31 32 Assets 33 Cash 34 Accounts receivable. 35 Supplies 36 Land 37 Total Assets 38 39 40 Sheet1 PAGE LAYOUT Ruler *** X Relationships among Financial Statements - Excel Sign In P REVIEW DATA FORMULAS Formula Bar 6 Zoom 100 % Zoom to Window Macros Gridlines Headings Selection Show Zoom Macros Presented below are incomplete financial statements for Marta Communications, D C B $4,100 MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Total $0 $0 $14,000 $14,000 MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 20X1 Liabilities $3,400 Accounts payable Stockholders' Equity 2,300 Common stock 12,000 Retained earnings VIEW Retained Earnings A (500) Total Liabilities and Stockholders' Equity - S $0 $14,000 4,100 (500) $17,600 $6,800 14,000 100% 4
