A11 ACCT& 201 Lab 1 Given Problem Data Instructions: Use the information below to complete the income statement, statement of stockholders' equity and balance sheet for Canary Company for 2018. Remember to create a cell reference (link) from the Financial Statements tab to each of these amounts-don't copy and paste them 2 CANARY COMPANY Financial Information (Given Data) For the year 2018 3,600 14,500 48,600 8,400 69,000 8,200 47,300 4,000 105,000 1,900 600 5,400 Accounts payable as of Dec. 31, 2018 Accounts receivable from customers as of Dec. 31, 2018 Cash as of Dec. 31, 2018 Insurance expense for the year Equipment owned as of Dec. 31, 2018 (net of depreciation) Rent expense for the year Salaries expense for the year Salaries owed to employees as of Dec. 31, 2018 Service revenue earned during the year Supplies expense for the year Supplies owned as of Dec. 31, 2018 Utilities expense for the year 9 20 Common stock as of Jan 1, 2018 (issued before 2018) Common stock issued during 2018 Retained earnings as of Jan. 1, 2018 Dividends paid to stockholders during the year 30,000 23 24 25 26 27 28 29 Excel uses a hypen to indicate the number 0 71,300 10,000 CANARY COMPANY Income Statement For the Year Ended December 31, 2018 This first cell has been completed for you Revenues Service revenue Expenses $105,000 Make sure to link all expenses to cells on the Problem Data tab. 8,200 5,400 47,300 1,900 8,400 Rent expense Utilities expense Salaries expense Supplies expense Insurance expense Total expenses Net income CANARY COMPANY Statement of Stockholders' Equity For the Year Ended December 31, 2018 Write a formula to add two cells together: D28+E28 Use Excel to do the math! Use this concept to compute all of the amounts in column F Total Common Stock Retained Stockholders Earnings Equit Beginning balance (Jan. 1) Issuance of common stock Add: Net income Less: Dividends Ending balance (Dec. 31) When you link to the cell containing the amount of dividends paid on the Problem Data tab, enter the minus sign in fron of the cell address to force it to be displayed as a negative number. CANARY COMPANY Balance Sheet December 31, 2018 Assets Liabilities Cash Accounts receivable Supplies Equipment, net Accounts payable Salaries payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Total assets Hint: Make sure Total Assets Total Liabilities and Stockholders Equity