Relationships among Financial Statements Marta Communications, Inc. has provided incomplete financial statements for the month ended March 31.The Controller has asked you to help calculate the missing amounts in the incomplete financial statements. Here are some tips for using Excel Cell Reference: Allows you to refer to data from another cell in the worksheet. If you entered "=35" into a blank cell, the formula would output the value from cell B5. Basic Math Functions: Allow you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add), - (minus sign to subtract). (asterisk sign to multiply), and / (forward stash to divide). For example, if you entered --B4+B5" in a blank cell, the formula would add the values from those cells and output the result SUM Function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges. If you entered "SUM(C4,C5,C6)" into a blank cell , the formula would output the result of adding those three separate cells. Similarly, if you entered "SUM(C4:C6)", the formula would output the same result of adding those cells. 1. Use the Open Excel in New Tab button to launch this question 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect B D E 1 13 800 2 Presented below are incomplete financial statements for Marta Communications Company. 3 4 Required: 5 Solve for the missing amounts. 6 Note: When an amount on one financial statement is again shown on another statement, you MUST reference the cell from 7 the earlier statement rather than calculate the amount, thus indicating the relationship between the two statements. 8 9 (All formulas must return positive values.) 10 11 MARTA COMMUNICATIONS Company 12 Income Statement For the Month Ended March 31 14 Sales Revenues $34,500 15 Expenses: 16 Rent Expense 2,600 17 Wages Expense 18 Utilities Expense 4,800 19 Income Tax Expense 20 Net income $4,100 21 22 MARTA COMMUNICATIONS Company 23 Statement of Owners' Equity 24 For the Month Ended March 31 25 Marta, Capital, March 1 $0 26 Add: Net income Subtract: Owner Withdrawals (500) 28 Marta, Capital, March 31 29 30 MARTA COMMUNICATIONS Company 31 Balance Sheet 32 At March 31 33 Assets Liabilities Cash $3,400 Accounts payable $20,800 35 Accounts receivable Office Supplies 2,300 Owners' Equity 37 12,000 Marta, Capital 38 Total Assets Total Liabilities and Owners' Equity 39 27 34 36 Land 40