Chapter 2 Excel Simulations i Saved 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. 5 7 points MARTA COMMUNICATIONS, INC. 9 Income Statement 10 For the Month Ended March 31, 20X1 ebook 11 Sales Revenues $34,500 Print 12 Expenses: 13 Rent Expense 2,600 References 14 Wages Expense 15 Utilities Expense 4.800 16 Income Tax Expense 800 17 Net income $4,100 18 19 20 MARTA COMMUNICATIONS, INC. 21 Statement of Retained Earnings 22 For the Month Ended March 31, 20X1 23 Retained Earnings, March 1, 20XI $0 24 Add: Net incomeDO 2 MARTA COMMUNICATIONS, INC. Income Statement 10 For the Month Ended March 31, 20XI 11 Sales Revenues $34.500 12 Expenses: 5 13 Rent Expense 2.600 points 14 Wages Expense 15 Utilities Expense 4,800 16 Income Tax Expense 800 ebook 17 Net income $4,100 Print 18 19 References 20 MARTA COMMUNICATIONS, INC. 21 Statement of Retained Earnings 22 For the Month Ended March 31, 20X1 23 Retained Earnings, March 1, 20XI $0 24 Add: Net income 25 Subtract: Dividends (500) 26 Retained Earnings, March 31, 20XI 2728 ebook 29 MARTA COMMUNICATIONS, INC. Print 30 Balance Sheet 31 At March 31, 20X1 References 32 Assets Liabilities 33 Cash $3,400 Accounts payable $6.800 34 Accounts receivable Stockholders' Equity 35 Office supplies 2,300 Common stock 14.000 36 Land 12,000 Retained earnings 37 Total Assets Total Liabilities and Stockholders' Equity 38 30 40 41