What is the formula for the last cell?

1. Prepare an income statement from a list of accounts 6 Preparing an income statement - Excel ? - FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW Sign in VIEW 5.7 pints Calibri -11 Paste BIU. - A A % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Book Clipboard Font References B42 X D E F $ A B 2 (Accounts are in alphabetical order.) 3 4 Accounts Payable 5 Accounts Receivable 6 Cash 7 Equipment 8 Insurance Expense 9 Operating Expense 10 Other Expenses Other Revenues 12 Rent Expense 13 Salaries Expense 14 Short-term Notes Payable 15 Test Prep Revenue 16 Tutoring 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 ! Saved Ciocard PON Styles B42 X f >> - 4 tes 00099988 A B D E F 2 (Accounts are in alphabetical order.) 3 Accounts Payable $ 8,088 5 Accounts Receivable 6,960 6 Cash 13.445 7 Equipment 4.800 Insurance Expense 1,350 Operating Expense 11,800 10 Other Expenses 3,482 Other Revenues 6,050 12 Rent Expense 4,800 13 Salaries Expense 6,882 14 Short-term Notes Payable 17,200 15 Test Prep Revenue 15,400 16 Tutoring Revenue 9.100 17 Unearned Revenue 1,046 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 25 "Net Loss" as appropriate based on the value calculated in cell C42. Sheet1 READY 100% 96 M Paste BIU- 6 Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font B42 X fo B D E F 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. 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or 25 "Net Loss' as appropriate based on the value calculated in cell C42. Book 23 erences 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 READING READINESS Company Income Statement For the Month Ended January 31, 20X1 Revenues: Test Prep Revenue $ Tutoring Revenue Other Revenues Total Revenues Expenses: Operating Expense Salaries Expense Rent Expense Other Expenses Insurance Expense Total Expenses $ 15,400 9.100 6,050 30.550 11,800 6.882 4,800 3.482 1,350 28,314 2.236 Sheet1 READY Attempt(s) 3/10 100% Show Me