34 FM AutoSave OFF ABES - GB112 - Excel Project 1 - PROBLEM Q Home Insert Draw Page Layout Formulas Data Tell me Share Comma % Conditional Formatting Format as Table Clipboard Font Alignment Number Cells Editing Ideas Ser Cell Styles B24 - XV fx A v 4 App A E F G H 1 GB112 - EXCEL PROBLEM #1 2. PROBLEM: 3 Kobe Corporation ("Kobe") was organized on January 1, 2019 and provides sports agent services Editing 4 At December 31, 2019, Kobe had the following financial data for the year: 5 6 Accounts payable $ 210,000 7 Accounts receivable, net $ 250,000 8 Cash $ 185,000 9 Common stock $ 125,000 10 Equipment, net L $ + 125,000 11 Income tax rate 25% 12 Note payable $ 112,500 13 Total operating expenses $ 130,000 14 Total sales revenue S 280,000 15 16 Kobe did not declare or pay dividends in 2019 17 The beginning balances in retained earnings and common stock are so as the business was started in 2019. 18 19 20 REQUIRED: 21 1. Prepare a summarized income statement for the year 22 2. Prepare a statement of stockholders equity for the year. 23 3. Prepare a balance sheet for the year 24 25 SUBMISSION: 26 Please name your file as follows so that we can easily identify your "FIRST NAME LAST NAME_68112-AAAA (Excel IJsx" 27 with "AA"being your Section number. This will help in identifying the student and section for Instructors to grade 28 29 Problem set submission is due submitted to your instructor by the beginning of class on Day Discuss the mode of submission with your instructo 30 Sheet1 +