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. In the Excel Simulation below, if =B13 is entered in a blank cell, the formula outputs the result from cell B13, which is 60,000 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). In the Excel Simulation below, if =B13+B14 is entered in a blank cell, the formula adds the values from those cells and outputs the result, which is 310,000 in this example. If using the other math symbols, the result is an appropriate answer for the 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. In the Excel Simulation below, if =SUM(B13,B14) is entered in a blank cell, the formula outputs the result of adding those two separate cells, which is 310,000 in this example. Similarly, if =SUM(B13:B14) is entered in a blank cell, the formula outputs the same result of adding those cells even though they are expressed as a range in the formula, which is 310,000 in this example.

Please include Excel Formula

1 Presented below is an incomplete financial statement articulation diagram 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 60,000 250,000 8 9 MARTA COMMUNICATIONS, INC. 10 Balance Sheet 11 For the Year Ended 12/31/Year 1 12 Assets 13 Cash 14 Land 15 Total Assets 16 Liabilities 17 Notes Payable 18 Stockholders' Equity 19 Common Stock 20 Retained Earnings 21 Total Stockholders' Equity MARTA COMMUNICATIONS, INC. Statement of Cash Flows For the Year Ended 12/31/Year 2 Operating Activities Investing Activities Financing Activities Net Change in Cash Beginning Cash Balance Ending Cash Balance 20,000 (100,000) 25,000 80,000 220,000 10,000 MARTA COMMUNICATIONS, INC. Statement of Changes in Stockholders' Equity For the Year Ended 12/31/Year 2 80,000 Ending Cash Balance 17 Notes Payable 18 Stockholders' Equity 19 Common Stock 20 Retained Earnings 21 Total Stockholders' Equity 22 Total Liabilities and Stockholders' Equity 23 220,000 10,000 50,000 24 MARTA COMMUNICATIONS, INC. Statement of Changes in Stockholders' Equity For the Year Ended 12/31/Year 2 Beginning Common Stock Common Stock Issued Ending Common Stock Beginning Retained Earnings Plus: Net Income Minus: Dividends Ending Retained Earnings Total Stockholders' Equity 25 26 27 (5,000) 28 29 30 31 32 MARTA COMMUNICATIONS, INC. Income Statement For the Year Ended 12/31/Year 2 33 34 Revenue Expense Net Income 100,000 (80,000) 35 36 37 20