Paste BIU- A Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font => A1 fx The list below shows select accounts for Great Taste Restaurants Inc. on March F G 3 4 + A B D E 1 The list below shows select accounts for Great Taste Restaurants Inc. on March 31, 2016 2 Accumulated Depreciation $ 35,000 Accounts Payable 65,000 5 Advertising Expense 20,625 6 Prepaid Advertising 61,875 7 Common Stock 50,000 8 Depreciation Expense 12,500 9 Dividend Payable 50,000 10 Dividends 100,000 11 Income Tax Expense 48,000 12 Income Tax Payable 35,000 13 Interest Expense 3,750 14 Interest Revenue 500 15 Loss on Disposal of Assets 10,000 16 Prepaid Rent 56,250 17 Rent Expense 18,750 18 Retained Earnings 836,875 19 Sales Revenue 300,000 20 Utilities Expense 8,750 21 Utilities Payable 7,000 22 Wage Expense 41,250 23 Wages Payable 10,125 Prev 1 of 1 EL HIH Next Clipboard Font Styles FX The list below shows select accounts for Great Taste Restaurants Inc. on March G A B C D E F 11 Income Tax Expense 48,000 12 Income Tax Payable 35,000 13 Interest Expense 3,750 14 Interest Revenue 500 15 Loss on Disposal of Assets 10,000 16 Prepaid Rent 56,250 17 Rent Expense 18,750 18 Retained Earnings 836,875 19 Sales Revenue 300,000 20 Utilities Expense 8,750 21 Utilities Payable 7,000 22 Wage Expense 41,250 23 Wages Payable 10,125 24 25 Required: 26 Complete the income statement below using Excel skills as directed. 27 Note that there are extra rows in each section of the income statement. 28 a. Use cell references to list the revenue accounts on the income statement using the account list above. 29 Your accounts must be listed in order of highest value to lowest value. Use cell references to show the 30 value of each account in column C. 31 32 b Use a cell reference to show the Total Revenues in column C. 33 Prev 1 of 1 HH Next Tor Great Taste Restaurants Inc. on March G A B D E F 24 25 Required: 26 Complete the income statement below using Excel skills as directed. 27 Note that there are extra rows in each section of the income statement. 28 a. Use cell references to list the revenue accounts on the income statement using the account list above. 29 Your accounts must be listed in order of highest value to lowest value. Use cell references to show the 30 value of each account in column C. 31 32 b. Use a cell reference to show the Total Revenues in column C. 33 34 c. 35 Use cell references to list the operating expense accounts on the income statement using the account list above. Your accounts must be listed in order of highest value to lowest value. Use cell references to show the value of each account in column C. 36 37 38 d. 39 Use the SUM function to show the Total Operating Expenses. Do NOT include blank cell locations in your SUM function. 40 41 e. Use a formula to calculate the Income from Operations. 42 43 f. 44 Use cell references to list the Other Items accounts on the income statement using the account list above. Your accounts must be listed in order of highest value to lowest value. Use cell references to show the value of each account in column C. If a value should be a negative number, your cell reference should be preceded with a minus sign. 45 46 Prev 1 of 1 Next > AI The list below shows select accounts for Great Taste Restaurants Inc. on March V A B. G 38 d. 39 D E Use the SUM function to show the Total Operating Expenses. Do NOT include blank cell locations in your SUM function. 40 41 e. Use a formula to calculate the Income from Operations. 42 43 f. 44 Use cell references to list the Other Items accounts on the income statement using the account list above. Your accounts must be listed in order of highest value to lowest value. Use cell references to show the value of each account in column C. If a value should be a negative number, your cell reference should be preceded with a minus sign. 45 46 47 48 g. Use a formula to calculate the Income before Income Taxes. 49 50 h. 51 Use cell references to list the accounts that fall below the Income before Income Taxes line on the income statement using the account list above. Your accounts must be listed in order of highest value to lowest value. Use cell references to show the value of each account in column C. 52 53 54 i. 55 Use a formula to calculate the Net Income. 56 57 Great Taste Restaurants Inc. Income Statement For the month ended March 31, 2016 58 59 60 Prev 1 of 1 BIL IR Next- B D E F Great Taste Restaurants Inc. Income Statement For the month ended March 31, 2016 Total Revenues Operating Expenses: 1 2 3 4 55 56 57 38 69 70 71 72 73 74 75 Total Operating Expenses Income from Operations Other Items: 76 77 Next B D E F 8 9 0 1 2 73 14 75 76 77 78 79 Total Operating Expenses Income from Operations Other Items: 80 81 Income before Income Taxes 82 83 84 85 Net Income 86 87 88 89 Prev 1 of 1 Next