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Using your spreadsheet from Part 1, assume the following information and change your spreadsheet setup /formulas as needed to solve for the missing values.

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Using your spreadsheet from Part 1, assume the following information and change your spreadsheet setup /formulas as needed to solve for the missing values. (Remember, only use cell referencing and formulas). Relationship #1 Relationship #2 Revenues ? Beginning Retained Earnings Expenses Net Income 35,000 85,000 Net Income Dividends Ending Retained Earnings Required: 1. Complete the table below based on your results: Revenues Beginning Retained Earnings Net Income (Relationship #2) Liabilities Retained Earnings (Relationship #3) Relationship #3 ? Assets ? Liabilities 20,000 Common Stock 134,000 Retained Earnings 240,000 ? 42,000 ?

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