1. Solve for the missing amounts and understand how the financial statements are linked. HS Relationships among Financial Statements - Excel ? X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In ABC Show/Hide Comment a5 Spelling Research Thesaurus Translate New Comment Delete Previous Next Show All Comments Show Ink Changes Proofing Language Comments A1 Presented below are incomplete financial statements for Marta Communications, A B D 1 Presented below are incomplete financial statements for Marta Communications, Inc. 2 3 Required: 4 Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on 5 another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus 6 indicating the relationship between the two statements. A B D 8 MARTA COMMUNICATIONS, INC. 9 Income Statement 10 For the Month Ended March 31, 20X1 11 Sales Revenues $34,500 12 Expenses: 13 Rent Expense 2,600 14 Salaries Expense 15 Utilities Expense 4,800 16 Income Tax Expense 800 17 Net income $4,100 18 19 20 21 MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Retained Earnings $0 $14,000 22 $0 23 Beginning Balance (March 1, 20X1) 24 Issuance of common stock 25 Add: Net income for March 26 Less: Dividends 27 Ending Balance (March 31, 20X1) 28 Total $0 $14,000 4,100 (500) $17,600 (500) $14,000 29 30 31 MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 20X1 Liabilities $3,400 Accounts payable Stockholders' Equity 2,300 Common stock 12,000 Retained earnings Total Liabilities and Stockholders' Equity $6,800 32 Assets 33 Cash 34 Accounts receivable 35 Supplies 36 Land 14,000 37 Total Assets 38 39 40