equired: 1. Complete the first table in the Excel document on D21 to determine what the company's accounting records would have looked like had you not made the journal entries as part of the CFO's special project. This will demonstrate how the decision to capitalize a expenses, affected the level of income from operations in each quarter. Note that when you make corrections to the Property and Equipment, Net account you need to accumulate the amount of the correction. For example, in Ql Year 1 the correction to Property and Equipment, Net account results in a balance of $39.000 minus $910 or $38,090. In Q2 Year 1 the correction would be $35,000 minus mounts, which were initially recorded as operating $910 from the prior quarter minus another $525 or the current quarter or $33,565 and so on. You will likely find it helpful to include in your spreadsheet the adjustment amounts for each of the 5 quarters so you can refer to those cells when doing your calculations. equired: 1. Complete the first table in the Excel document on D21 to determine what the company's accounting records would have looked like had you not made the journal entries as part of the CFO's special project. This will demonstrate how the decision to capitalize a expenses, affected the level of income from operations in each quarter. Note that when you make corrections to the Property and Equipment, Net account you need to accumulate the amount of the correction. For example, in Ql Year 1 the correction to Property and Equipment, Net account results in a balance of $39.000 minus $910 or $38,090. In Q2 Year 1 the correction would be $35,000 minus mounts, which were initially recorded as operating $910 from the prior quarter minus another $525 or the current quarter or $33,565 and so on. You will likely find it helpful to include in your spreadsheet the adjustment amounts for each of the 5 quarters so you can refer to those cells when doing your calculations