PLEASE SHOW EXCEL FORMULAS TO SOLVE FOR THE HIGHLIGHTED CELLS
D A B 8 MARTA COMMUNICATIONS, INC. 9 Income Statement 10 For the Month Ended March 31, 20X1 11 Sales Revenues $34,500 12 Expenses: 13 Rent Expense 2,600 14 Salaries Expense 22,200 15 Utilities Expense 4,800 16 Income Tax Expense 800 17 Net income $4,100 18 19 20 21 MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Retained Earnings $0 $14,000 $0 22 23 Beginning Balance (March 1, 20X1) 24 Issuance of common stock 25 Add: Net income for March 26 Less: Dividends 27 Ending Balance (March 31, 20X1) 28 Total $0 $14,000 4,100 (500) $17,600 (500) $14,000 29 MARTA COMMUNICATIONS, INC. B D 18 19 20 MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Retained Earnings $0 $14,000 $0 21 22 23 Beginning Balance (March 1, 20X1) 24 Issuance of common stock 25 Add: Net income for March 26 Less: Dividends 27 Ending Balance (March 31, 20X1) 28 Total $0 $14,000 4,100 (500) $17,600 (500) $14,000 29 30 MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 20X1 Liabilities $3,400 Accounts payable Stockholders' Equity 2,300 Common stock 12,000 Retained earnings Total Liabilities and Stockholders' Equity 31 32 Assets 33 Cash 34 Accounts receivable 35 Supplies 36 Land 37 Total Assets $6,800 14,000 38 39 D A B 8 MARTA COMMUNICATIONS, INC. 9 Income Statement 10 For the Month Ended March 31, 20X1 11 Sales Revenues $34,500 12 Expenses: 13 Rent Expense 2,600 14 Salaries Expense 22,200 15 Utilities Expense 4,800 16 Income Tax Expense 800 17 Net income $4,100 18 19 20 21 MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Retained Earnings $0 $14,000 $0 22 23 Beginning Balance (March 1, 20X1) 24 Issuance of common stock 25 Add: Net income for March 26 Less: Dividends 27 Ending Balance (March 31, 20X1) 28 Total $0 $14,000 4,100 (500) $17,600 (500) $14,000 29 MARTA COMMUNICATIONS, INC. B D 18 19 20 MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Retained Earnings $0 $14,000 $0 21 22 23 Beginning Balance (March 1, 20X1) 24 Issuance of common stock 25 Add: Net income for March 26 Less: Dividends 27 Ending Balance (March 31, 20X1) 28 Total $0 $14,000 4,100 (500) $17,600 (500) $14,000 29 30 MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 20X1 Liabilities $3,400 Accounts payable Stockholders' Equity 2,300 Common stock 12,000 Retained earnings Total Liabilities and Stockholders' Equity 31 32 Assets 33 Cash 34 Accounts receivable 35 Supplies 36 Land 37 Total Assets $6,800 14,000 38 39
