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 E O WN B D E F G H 1 2 Noodles Unlimited, Inc. sells swimming pool toys. The following adjusted trial balance is for the year ended December 31. 3 4 Account Titles Debits Credits 5 Cash $37,500 6 Accounts Receivable 28,600 7 Inventory 43,300 8 Prepaid Rent 2,000 9 Equipment 69,000 10 Accumulated Depreciation $20,700 11 Accounts Payable 8,800 12 Unearned Fees 20,000 13 Long-term Notes Payable 75,000 14 Noodles, Capital 31,800 15 Sales Revenue 175,500 16 Sales Returns and Allowances 4,700 17 Sales Discounts 6,000 18 Cost of Goods Sold 67,700 19 Salaries and Wages Expense 25,900 20 Depreciation Expense 13,800 21 Rent Expense 24,000 22 Interest Expense 1,600 23 Loss on Sale of Equipment 7,700 24 Totals $331,800 $331,800 25 D G B E F G H 25 26 Required: 27 1. Prepare a multi-step income statement that would be used for internal reporting purposes. 28 29 (Use cells AS to C24 from the given information to complete this question. All formulas must return positive values.) 30 31 NOODLES UNLIMITED 32 Income Statement 33 For the Year Ended December 31 34 35 Less: 36 37 38 Net Sales 39 40 Gross Profit 41 Expenses: 42 43 44 45 Income from Operations 46 Other Expenses and Losses 47 48 49 50 51 52 2. Compute the gross profit percentage 53 54 Gross Profit Percentage 55