FILE HOME 7 INSERT Preparing an income statement - Excel FORMULAS DATA REVIEW PAGE LAYOUT X VIEW - Sign In Calibri Paste B IU- A Alignment Number Cells Editing Clipboard Font Conditional Format as Cell Formatting Table Styles Styles B31 1 The list below shows select accounts for Reading Readiness, Inc. as of January 31, 20X1. 2 (Accounts are in alphabetical order.) w #BBB Accounts Payable Accounts Receivable Cash Equipment Income Tax Expense Operating Expense Other Expenses Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 8,088 6,960 13,445 4,800 1,350 11,800 3,482 6,050 4,800 6,882 17,200 15,400 9,100 1,046 & 19 Required: ZU 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references Zl 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. 24 2. After entering the formula in cell CA2, use the Excel IF function to label cell B42 as either "Net Income" or ... Sheet1 ... READY B31 B 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. 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 042. READING READINESS, INC. Income Statement For the Month Ended January 31, 20X1 Revenues: Total Revenues Expenses: Total Expenses Sheet1 ... READY