Function: SUM; Formula: Add, Subtract; Cell Referencing

Using Excel to Prepare an Income Statement, a

Retained Earnings Statement, and a Balance Sheet

PROBLEM

Reese Inc., a provider of consulting services, was founded on October $1,2027.$ At the end of the first month of operations, the company decided to prepare an income statement, retained earnings statement, and balance sheet using the following information.

Accounts payable

Interest expense

Equipment $($net$)$

Salaries and wages expense

Bonds payable

Unearned service revenue

Accounts receivable

Cash

Supplies

Supplies expense

Depreciation expense

Service revenue

Salaries and wages payable

Common stock

Interest payable

Retained earnings, October $1$

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated.