Chapter 2 Excel Simulations i Saved Formatting " Table Styles Clipboard G Font F Styles Al X V The list below shows select accounts for Reading Readiness Company as of A B C D E F C * The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. 5 (Accounts are in alphabetical order.) points 4 Accounts Payable S 8.088 5 Accounts Receivable 5.960 ebook Cash 13,445 4,800 Print Equipment Insurance Expense 1,350 References 9 Operating Expense 11,800 10 Other Expenses 3,482 11 Other Revenues 6.050 12 Rent Expense 4,800 13 Salaries Expense 6.882 14 Short-term Notes Payable 17.200 15 Test Prep Revenue 15,400 16 Tutoring Revenue 9.100 17 Unearned Revenue 1.046 18 19 Required: 20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 21 to select account titles and amounts to be included on the income statement. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 24 3. After entering the formula in cell (12 nee the Excel IF function to label call R4) as either "Net Income" arChapter 2 Excel Simulations 1 Saved Al X The list below shows select accounts for Reading Readiness Company as of A B C D E F C . 19 Required: 20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 21 to select account titles and amounts to be included on the income statement. 5 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. points 23 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or 25 "Net Loss" as appropriate based on the value calculated in cell C42. ebook 26 Print 27 READING READINESS Company 28 Income Statement References 29 For the Month Ended January 31, 20X1 30 Revenues: 31 32 33 34 Total Revenues 35 Expenses: 36 37 38 39 40 41 Total Expenses 42 43 Sheet1 (+)