24 2. After entering the formula in cell C42, use the Excel IF function to label...

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24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" 25 "Net Loss" as appropriate based on the value calculated in cell C42. 26 27 28 Revenues: READING READINESS Company Income Statement For the Month Ended January 31, 20X1 29 30 31 Test Prep Revenue $ 15,400 32 Tutoring Revenue 9,100 83 Other Revenues 6,050 34 85 36 87 Total Revenues Expenses: Operating Expense Salaries Expense 30,550 11,800 6,882 38 Rent Expense 4,800 39 Other Expenses 3,482 40 Insurance Expense 1,350 41 Total Expenses 28,314 42 43 14 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" 25 "Net Loss" as appropriate based on the value calculated in cell C42. 26 27 28 Revenues: READING READINESS Company Income Statement For the Month Ended January 31, 20X1 29 30 31 Test Prep Revenue $ 15,400 32 Tutoring Revenue 9,100 83 Other Revenues 6,050 34 85 36 87 Total Revenues Expenses: Operating Expense Salaries Expense 30,550 11,800 6,882 38 Rent Expense 4,800 39 Other Expenses 3,482 40 Insurance Expense 1,350 41 Total Expenses 28,314 42 43 14

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Sureheres the formula you can enter in cell C42 of your Excel spreadsheet to calculate n... View the full answer