Prepare an income statement from a list of accounts:

1. Prepare an income statement from a list of accounts Preparing an income statement - Excel - FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri B 1 u .2.A. -A Alignment Number Conditional Format as Cell Formatting. Table" Styles Paste Clipboard r Font es A1 The list below shows select accounts for Reading Readiness, Inc. as of January 31 The list below shows select accounts for Reading Readiness, Inc. as of January 31 (Accounts are in alphabetical order.) 2 Accounts Payable Accounts Receivable Cash Equipment Income Tax Expense Operating Expense Other Expenses Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 8,088 6,960 13,445 4,800 1,350 11,800 3,482 6,050 4,800 6,882 17,200 15,400 9,100 1,046 6 10 12 13 14 15 16 17 18 19 Required: 20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 21 to select account titles and amounts to be included on the income statement. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1 READY + 100% Attempt(s) Hint