Prepare a balance sheet and income statement for the Warner Company from the following scrambled list of items. Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copyipaste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel fanction is to be used, the directions will specify the use of that function. Do not type in aumerical data into a cell or furlion. Instead, make a reference to the cell in which the data is found. Make your computations only in the green cells hightighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. a. Prepare an income statement for the Warner Company. b. Prepare a balance sheet for the Warner Company. Requiremets 1 Start Fxcel. Inreme Statrmem In cells E29 and E10, by using cell references, determine the sales asd cout of goods sold. 2 Note: The output of the expression or function you typed in cell E1e for the cout of goods sold is expected as a positive number. (1 pt.) 3. In cell E.13, by using cell references, calculate the gross profit (1 pt.) 4 In cell E31 and E14, by using cell references, determine the general and administrative expenic and depreciation expense. Nete: The aetputs of the expresion of function you typed in these cells are eapected as negative sumbers. (I pt.) 5. In cell Ea5, by asing cell references, calculate the total eperating expensex. (1 pt.) 6 . In eell 136, by using cell references, calculate the net operating income. (1 pt.) In cell V:17, hvainine a cell erifrence determine the intrrat ernense 3-13 + Incame Statement In cells E29 and E30, by using cell references, determine the sales and cost of goods sold. 2 Note: The output of the expression or function you typed in cell E30 for the cost of goods sold is expected as a positive number. (1 pt.) 3 In cell F31, by using cell references, calculate the gross profit. (1 pt.) 4 In cell E33 and E34, by using cell references, determine the general and administrative expense and depreciation expense. Note: The outputs of the expression or function you typed in these cells are expected as negative numbers. (1 pt.) 5 In cell E35, by using cell references, calculate the total operating expenses. (1 pt.) 6 In cell F36, by using cell references, calculate the net operating income. (1 pt.) In cell E37, by using a cell reference, determine the interest expense. 7 Note: The output of the expression or function you typed in this cell is expected as a negative number. (1 pt.) 8 In cell 138, by using cell refcrences, calculate the carnings before taxes. (1 pt.) In cell F39, by using a cell reference, determine the taxes. 9 Note: The output of the expression or function you fyped in this cell is expected as a negative number. (I pt.) 10 in cell E40, by using cell references, calculate the net income. (1 pt.) Balance Shect 11 In cells EA8, E49, and E50, by using cell references, determine the cash, inventory, and accounts receivable. (1 pt.) 12 In cell E.51, by using cell references, calculate the total current assets. (1 pt.) In cells E53 and E54, by using cell references, determine the buildings and equipment asset and accumulated depreciation. 13 Note: The output of the expression or function you typed in cell F54 for the accumulated depreciation is expected as a negative number. (1 pt.) 14 In cell ES5, by using cell references, calculate the net buildings and equipment asset. Use cells R53 and ES4. (1 pt.) 15 In cell E56, by using cell references, calculate the total assets. (1 pt.) 16 In cells E59, E60, E61, and E62, by using cell references, enter the accounts payable, taxes payable, accrued expenses, and notes payable (1 pt.) 17 In cell E63, by using cell references, calculate the total current liabilities. (1 pt.) 18 In cell E.64, by using a cell reference, determine the long-term debt. (1 pt.) 19. In cell E65, by using cell references, calculate the total liabilities. (I pt.) 20 In cells E67 and E68, by using cell references, determine the common stock and retained carnings. (1 pt.) 21 In cell E69, by using cell references, calculate the total sharcholders' equity. (1 pt.) 22 In cell E70, by using cell references, calculate the total liabilities and shareholders' equity. (1 pt.) 23 Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed
