Excel Basics Project, Cost $1,$ Spring $25$

Brittany Baker is trying to create financial statements for her start$-$up company, Pizza Heaven. Brittany

began the business on Jan $1,2024$ with a $$1,000$ investment from her parents. The year $2024$ is over,

and Brittany needs help to generate a profit and loss statement $($Income statement$)$ and Balance sheet.

She is only able to ascertain that her cash is higher than she started the year with $($$$1,000).$

Two types of pizzas are sold, Vegetable and Carnivore. Brittany$$s business model is to buy the finished

pizzas from her father, also a baker, shrink wrap them and ship with dry ice to states in the Southeastern

US$.$ She purchased initial inventory of $50$ pizzas of each product in mid$-$January, $2024.$ Brittany pays her

father $$10$ for the vegetarian and $$12$ for the meat pizza.

Sales have been good. Brittany advertises solely on her internet website. Pizza Heaven has sold $160$

vegetable and $140$ carnivore pizzas. She charges $$19$ and $$22$ each for the products, respectively. Her

website hosting site charges $$\mathrm{.}60$ for each unit sold. Brittany has replenished her inventory by

purchasing $150$ units of each type of pizza in June $2024$ from her father at the same cost as her initial

inventory purchases. Brittany$$s other costs are packaging and shipping; she incurs $$4$ per pizza for these

costs, regardless of pizza type. She does not currently pay herself a salary as she is running the business

after her regular job.

TO DO:

$1.$ Generate an income statement and balance sheet for Pizza Heaven using Excel. You will have $3$

worksheets within one workbook:

$-$ Input sheet: Type in the data given in this case;

$-$ Income statement: Create an income statement for the year ended $12/31/24.$ The income

statement should look like this:

Quantity $ per unit Dollars

Revenues

Vegetable

Carnivore

Cost of sales

Vegetable

Carnivore

Gross Margin

Selling, General and Administrative Costs

Advertising:

Vegetable

Carnivore

Shipping and handling

Vegetable

Carnivore

Operating Income

$-$ Balance sheet: Create a balance sheet as of $1/1/24$ and $12/31/24,$ which looks like this:

You will need to compute your ending cash balance as of $12/31/24$; it is within $$400$ of the beginning

cash balance as of $1/1/24.$

$2.$ Create a conditional $$if$$ statement showing that Assets $=$ Liabilities $+$ Owner$$s Equity. If the

condition is met, it should say EQUAL. If the condition is not met, it should say PROBLEM.

$3.$ All numbers on the income statement and balance sheet MUST BE either a formula or a cell

reference. No numbers can be input on these sheets, except dates, column headings or

descriptions. In other words, all computations must be cell referenced. You will cell reference

back to the input sheet, income statement or balance sheet.

$4.$ Use the number format #$,$###$.$##$.$ Make the statements look presentable, i$.$e$.$ use spacing,

underlines, bold, colors etc. as if you were making a presentation to Brittany.

GRADING RUBRIC:

$-$ Cell referencing and formulas used for income statement and balance sheet. Statements look

presentable $($format$,$ spacing etc.$)5$ points

$-$ Correct numbers $4$ points

$-$ Conditional If statement correctly written and applied $1$ point

o TOTAL $10$ points

$12/31/231/1/2023$

Assets

Cash

Inventory

Vegetable

Carnivore

Total Assets

Liabilities and Owner's Equity

Beginning investment

Net income

Ending investment