PLEASE HELP

Please !!!!

Grader - Instructions Accounting 2019 Project BT6e E2-29A v2 Project Description: BT6e E2.29A Steps to Perform: Step Instructions Points Possible 21 Prepare the income statement for West Nautical Company in for the most recent year. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) a. Check your spelling carefully and do not abbreviate. b. Follow the format in the exhibit that shows the Manufacturer's Income Statement. c. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. Total Points 21 A B D E F Formula Bar H Building Blocks of Managerial Accounting Prepare Income Statement Review the following amounts for West Nautical Company. Assume that the Raw Materials Inventory contains only direct materials. The Calculation of Direct Materials Used, Schedule of Cost of Goods Manufactured, and Calculation of Cost of Goods Sold can be found under the "COSTOFGOODSSOLD" tab. Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct labor Indirect labor Beginning of Year End of Year $ 23,000 $ 25,000 S 35,000 $ 31,000 $ 20,000 $ 22,000 $ 74,000 $ 86,000 $ 42,000 Insurance on plant Depreciation--plant building and equipment Repairs and maintenance-plant Marketing expenses General and administrative expenses End of Year $ 11,500 $ 13,400 $ 3,700 $ 77,000 $ 28,500 Assume that the company has the following sales during the year: Price per Units sold unit 34,000 $ 12 C Use the blue shaded areas on the ENTERANSWERS tab for inputs, Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be 9 marked wrong 0 1 Requirement 2 Prepare the income statement for West Nautical Company in for the most recent year. 3 a. Check your spelling carefully and do not abbreviate. 24 b. Follow the format in the exhibit that shows the Manufacturer's Income Statement. 25 Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted, 27 Saving & Submitting Solution 28 1 Save file to desktop 29 Create folder on desktop, and label COMPLETED EXCEL PROJECTS 2 Upload and submit your file to be graded 31 Navigate back to the activity window - screen where you downloaded the initial spreadsheet b. Click Choose button under step 3; locate the file you just saved and click Open c. Click Upload button under step 3 d. Click Submit button under step 4 26 30 32 33 34 25 W N (Always use cell references and formulas where appropriate to receive full credit. If you 1 copy/paste from the Instruction tab you will be marked wrong.) 2 3 West Nautical Company Income Statement 5 For Current Year 6 7 4 8 9 10 11 12 13 Operating income 14 15 16 17 18 19 20 21 22 23 24 25 26 23,000 74,000 97,000 25,000 72,000 35,000 1 **DATA SHEET -- DO NOT ENTER ANSWERS HIIRE** 2 3 Calculation of Direct Materials Used 4 Beginning Raw Materials Inventory $ 5 Plus: Purchases of direct materials 6 Materials available for use $ 7 Less: Ending Raw Materials Inventory 8 Direct materials used $ 9 10 Schedule of Cost of Goods Manufactured 11 Beginning Work in Process Inventory $ 12 Plus Manufacturing costs incurred: 13 Direct materials used 14 Direct labor 15 Manufacturing overhead 16 Total manufacturing costs to account for $ 17 Less: Ending Work in Process Inventory 18 Cost of goods manufactured 19 20 Calculation of Cost of Goods Sold 21 Beginning Finished Goods Inventory $ 22 Plus: Cost of goods manufactured 23 Cost of goods available for sale $ 24 Less: Ending Finished Goods Inventory 25 Cost of goods sold 26 27 28 72,000 86,000 70,600 263,600 31,000 232,600 $ 20,000 232,600 252,600 22,000 230,600 $ (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) West Nautical Company Income Statement For Current Year 2 Operating income 5 16 eview the following amounts for West Nautical company. Assume that the Raw Materials inventory contains only direct materials. The alculation of Direct Materials Used, Schedule of Cost of Goods Manufactured, and Calculation of Cost of Goods Sold can be found under ne "COSTOFGOODSSOLD" tab. Beginning of Year End of Year Raw materials Inventory $ 23,000 $ 25,000 Insurance on plant Work in process inventory $ 35,000 $ 31,000 Depreciation-plant building and equipment Finished goods inventory $ 20,000 $ 22,000 Repairs and maintenance-plant Purchases of direct materials $ 74,000 Marketing expenses Direct labor $ 86,000 General and administrative expenses Indirect labor $ 42,000 Assume that the company has the following sales during the year: Price per Units sold unit 34,000 $ 12 End of Year $ 11,500 $ 13,400 $ 3,700 $ 77,000 $ 28,500 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong Requirement Prepare the income statement for West Nautical Company in for the most recent year, Check your spelling carefully and do not abbreviate. b. Follow the format in the exhibit that shows the Manufacturer's Income Statement. c. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted Saving & Submitting Solution 1 Save file to desktop a. Create folder on desktop, and label COMPLETED EXCEL PROJECTS 2 Upload and submit your file to be graded. Navigate back to the activity window - screen where you downloaded the initial spreadsheet Click Choose button under step 3; locate the file you just saved and click Open Click Upload button under step 3 Click Submit button under step 4 b d Viewing Results 1 click on Results tab in MyAccountinglab