MSP Corp. repairs watches and clocks. The company is owned and operated by Maria Samuels. As of August 31, 2026, the company had these account balances:

Account	Balance
Cash	$46,200
Accounts Receivable	$7,500
Supplies	$3,400
Furniture	$11,000
Equipment	$4,000
Accounts Payable	$26,300
Interest Payable	$1,200
Maria Samuels, Capital	$?????

Open a new workbook and rename the first Worksheet, "Acct Equation" Use the accounting equation to calculate the August 31, 2026 balance in the Maria Samuels, Capital account above. You will need the Maria Samuels, Capital account balance to begin the statement of owner's equity.

In cell C5 type Owner's Equity, in cell D5 enter =, in cell E5 type Assets, in cell F5 type -, and in cell G5 type Liabilities. Format the equation to be Bold and center the contents of each cell.

In cells directly below the equation calculate the totals using the dollar amounts from the table above. Format the amounts using the Accounting Number format with no decimals. Once complete Autofit the five columns.

It may be helpful to use T-accounts to update the balances above by posting your journal entries from Question 1 (You do not need to submit them). Once you have determined the account balances for the month ending September 30, use your updated balances to create the income statement, the statement of owner’s equity, and the balance sheet for MSP Corp for the month ending September 30, 2026. Create each financial statement using a new worksheet for each. Label the worksheet tabs, Income Statement, Statement of O.E., and balance sheet. Do not use any abbreviations in your financial statements.

Format your financial statements using the same methods you learned in the chapter 2 assignments. Be sure to merge and center your headers, format them in bold, and fill them with Green, Accent 6, and Lighter 80%. Be sure to include the proper formatting, including the Accounting number format without decimals and borders.

Income Statement: Column A: 3 characters wide, Column B: 20 characters wide, Columns C and D: 10 characters wide.

Statement of Owner's Equity: Column A: 22 characters wide, Column B: 3 characters wide, Column C: 10 characters wide.

Balance Sheet: Column A: Column A: 22 characters wide, Column B: 8 characters wide, Column C: 10 characters wide.

Your workbook should contain four worksheets.