For this homework, use the Excel file "Week$4\_$project$1"$ posted in the Project D$8$

$fx$

$1$

Lowell Inc.

Income Statement

$1$ dropbox tool, enter your calculations there, and submit it by the due date

$($You do not need to submit this problem file$).$ Check each worksheet's name

at the bottom when you solve each problem. DO NOT TYPE NUMBERS!

Any answers typed without equations will not earn full credit.

Part I. Financial Statement Analysis, Forecasting, and Time Value of

Money

$[$Questions $1-2]$ The following are financial statement items for Lowell Inc.:

Use the above data and create Lowell's income statement and balance

sheet for $2021$ and $2020.$ Each financial statement should be

presented on the worksheets $"$Q$1\_$IS$"$ and $"$Q$1\_$BS$,"$ respectively.

Make the statements concise by displaying the numbers in thousands

$($you can $1)$ divide the numbers by $1,000$ or $2)$ right$-$click the cell and

choose format cell $-$ custom $-$ #$,$##$0\mathrm{.}00,).$