Excel Assignment 2

Preparing a single-step income statement, preparing a multi-step income statement, and computing the gross profit percentage for Snappy Beverages Please open the problem P-F:5-43A in your text or e-book in chapter 5, page 5-69. You will use excel worksheet to do this problem and then upload it here. Please review the rubrics below for credit points for each requirement. Total 10 points Requirement 1. Prepare a single-step income statement. 2. Prepare a multi-step income statement. 3. The owner of the company strives to earn a gross profit percentage of at least 50%. Did Snappy Beverages achieve this goal? Show your calculations.

Excel Assignment 2 Due Feb 15 by 11:59pm Points 10 Submitting a file upload Available Feb 6 at 12am - Feb 17 at 11:59pm Preparing a single-step income statement, preparing a multi-step income statement, and computing the gross profit percentage for Snappy Beverages Please open the problem P-F:5-43A in your text or e-book in chapter 5, page 5-69. You will use excel worksheet to do this problem and then upload it here. Please review the rubrics below for credit points for each requirement. Total 10 points Requirements 1. Prepare a single-step income statement. 2. Prepare a multi-step income statement. 3. The owner of the company strives to earn a gross profit percentage of at least 50%. Did Snappy Beverages achieve this goal? Show your calculations. Some Rubric (2) Criteria Ratings Pts One sheet per requirement was used 1 pts 0 pts Well done! No Marks 1 pts P-F:5-43A Preparing a single-step income statement, preparing a multi-step income statement, and computing the gross profit percentage The records of Snappy Beverages list the following selected accounts for the quarter ended April 30, 2025. All accounts have normal balances. Merchandising Operations Financial 5-69 Learning Objectives 5, 6 2. Operating Income $80,700 Interest Revenue $ 500 Accounts Payable $ 19,300 Merchandise Inventory 45,300 Accounts Receivable 38,000 Notes Payable, long-term 52,000 Accumulated DepreciationEquipment 36,800 Sales Discounts 5,500 Willis, Capital 42,200 Sales Returns and Allowances 8,500 Willis, Withdrawals 17,000 Sales Revenue 306,000 Cash 7,400 Rent Expense (Selling) 21,400 Cost of Goods Sold 160,600 Supplies 6,300 Equipment 130,000 Unearned Revenue 13,200 Interest Payable 1,000 Interest Expense 1,700 Rent Expense (Administrative) 9,600 Depreciation ExpenseEquipment (Administrative) 1,300 Utilities Expense (Selling) 10,600 Utilities Expense (Administrative) 4,300 Delivery Expense (Selling) 3,500 Requirements 1. Prepare a single-step income statement. 2. Prepare a multi-step income statement. 3. The owner of the company strives to earn a gross profit percentage of at least 50%. Did Snappy Beverages achieve this goal? Show your calculations. ie- - )