order. Using the amounts below, redo the income statement and balance sheet. Use Excel, and for the calculated terms (not given) use math in Excel.

Show the math calculations in another sheet. Copy sheet 1 to sheet 2, and then show the formulas by using Ctrl ~. Put in the proper headers, etc. as explained in the syllabus.

Bring your 2 pages of print out to class for grading.

Accounts payable	$31,000
Accounts Receivable	$36,000
Accumulated Depreciation	$45,000
After Tax Income
Cash	$24,000
Common Stock	$36,000
Cost of Goods Sold	$62,000
Current Assets
Current Liabilities
Depreciation	$6,000
EBIT
Gross Fixed Assets	$112,000
Gross Profit
Interest	$4,500
Inventory	$42,000
Labor Expense	$12,000
Long Term Debt	$50,000
Net Fixed Assets
Overhead	$8,000
Retained Earnings	$27,000
Sales	$100,000
Short Term Debt	$25,000
Taxable Income
Taxes	35%
Total Assets
Total Liabilities and Net Worth

Income Statement Balance Sheet

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