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please include excel functions The list below shows select accounts for Great Taste Restaurants Inc. on March 31, 2016 Accumulated Depreciation Accounts Payable Advertising Expense
please include excel functions
The list below shows select accounts for Great Taste Restaurants Inc. on March 31, 2016 Accumulated Depreciation Accounts Payable Advertising Expense Prepaid Advertising Common Stock Depreciation Expense Dividend Payable Dividends Income Tax Expense Income Tax Payable Interest Expense Interest Revenue Loss on Disposal of Assets Prepaid Rent Rent Expense Retained Earnings Sales Revenue Utilities Expense Utilities Payable Wage Expense Wages Payable 35,000 65,000 20,625 61,875 50,000 12,500 50,000 100,000 48,000 35,000 3,750 500 10,000 56,250 18,750 836,875 300,000 8,750 7,000 41,250 10,125 Required: 26 Complete the income statement below using Excel skills as directed. Note that there are extra rows in each section of the income statement. Use cell references to list the revenue 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. 2 2 Use a cell reference to show the Total Revenues in column C. 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. Use the SUM function to show the Total Operating Expenses. Do NOT include blank cell locations in your SUM function. 2 3 Use a formula to calculate the Income from Operations. 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. Use a formula to calculate the Income before Income Taxes. 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. Use a formula to calculate the Net Income. Great Taste Restaurants Inc. Income Statement For the month ended March 31, 2016 Total Revenues Operating Expenses: Total Operating Expenses Income from Operations Other Items: Income before Income Taxes Net IncomeStep by Step Solution
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