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Assignment Instructions Step Instructions 1 Prepare the income statement for West Nautical Company in for the most recent year. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) a. Check your spelling carefully and do not abbreviate. b. Follow the format in the exhibit that shows the Manufacturer's Income Statement. c. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. Review the following amounts for West Nautical Company. Assume that the Raw Materials inventory contains only direct materials. The Calculation of Direct Materials Used, Schedule of Cost of Goods Manufactured, and Calculation of Cost of Goods Sold can be 4 found under the "COSTOFGOODSSOLD" tab. Assume that the company has the following sales during the vear: 18 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the instruction tab you 19 will be marked wrong. Requirement 22. Prepare the income statement for West Nautical Company in for the most recent year: a. Check your spelling carefully and do not abbreviate. b. Follow the format in the exhibit that shows the Manufacturer's Income Statement. c. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. A1 fx *"DATA SHEET - DO NOT ENTER ANSWERS HERE** 1 **DATA SHEET - DO NOT ENTER ANSWERS HERE** A (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.)