Use the information below to complete the horizontal financial statements model. All cells shaded in yellow must include a formula.Financial Statements tab: Complete the Year 2 financial statements. All accounts titles and balance must be cell referenced - no hard-keying allowed. Formulas must be used where applicable (e.g. total assets). The explanations on the Statement of Cash Flows such as "Cash received from customers" cannot be cell referenced and will need to be typed.Financial Statements tab: Cell D35 - write an =IF formula that returns the word "Balanced" if Assets equal Liabilities + Equity or "Not Balanced" if Assets do not equal Liabilities + Equity.Financial Statements tab: Cell H35 - write an =IF formula that returns the word "Correct" if the ending balance in Cash equals the ending balance of Cash calculated at the bottom of the horizontal financial statements model.Analysis: Complete the change scenarios and answer the questions found on the Analysis tab.

*Only need help with the horizontal financial statements

Waddel Company had the following balances in its accounting records as of December 31, year 1:

Assets

Cash $52,000

Accounts Receivable 23,000

Land 45,000

Total $120,000

Liabilities & Stockholders' Equity

Accounts Payable $12,500

Common Stock 35,000

Retained Earnings 72,500

Total 120,000

The following accounting events apply to Waddell Company's Year 2 fiscal year

Jan. 1. Acquired $35,000 cash from the issue of common stock

Mar. 1 Paid a $4,000 cash dividend to the stockholders

Apr. 1 Purchased additional land that cost $20,000 cash

May. 1 Made a cash payment on accounts payable of $7,000

Sept 1 Sold land for $25,000 cash that had originally cost $25,000

Dec 31 Earned $65,000 of service revenue on account during the year

31 Recieved cash collections from accounts receivable amounting to $55,000

31 Incurred other operating expenses on account during the year that amounted to $34,000

31 the land purchased on April 1 had a market value of $30,000