Please show all work with the given information (Income Sheet and Balance Sheet) through an Excel file and give details of the formulas used. Thanks!

a. C. e. Section 1 Determine the changes to the income statement, balance sheet, job cost ledger, and equipment ledger based on the following transactions. Show each transaction graphically, then complete Section 2. Record a bill for lumber used in job 302 in the amount of $6,157 b. Record a $18,444 bill received from a subcontractor for work performed at job 302, and you will withhold 10% of that bill Pay for office rent in the amount of $2,711 d. Send an invoice to an owner for $20,082. The owner will withhold 10% retention. Record repairs to backhoe 27 in the amount of $495 f. Record depreciation for backhoe 27 in the amount of $524 g Record a bill received for telephone service in the amount of $194 h. Pay a bill for concrete for job 302 in the amount of $6,924 i. Bill job 302 for backhoe 27 in the amount of $764 j. Receive a check from an owner for progress payment for $22,709. No retention was withheld. Section 2 For the current accounting period, using the percentage completion accounting method and assuming no changes other than those listed above, what are you now showing for the owing accounts? 1 Revenues 2 Total Construction Costs 3 Total Equipment Costs 4 Gross Profit 5 Total Overhead Expenses 6 Net Profit from Operations 7 Total Current Assets (current period) 8 Net Fixed Assets (current period) 9 Total Current Liabilities (current period) 10 Total Equity (current period) Group 1,314,044 44,986 74,231 313,628 105,049 59,834 597,728 Income Statement Revenues Construction Costs Materials Labor Subcontract Equipment Other Total Construction Costs Equipment Costs Rent and Lease Payment Depreciation Repairs and Maintenance Fuel and Lubrication Taxes, Licenses, and Insurance Equipment Costs Charged to Jobs Equipment Costs Charged to Employees Total Equipment Costs Gross Profit Overhead Net Profit from Operations Other Income and Expenses Profit Before Taxes Income Tax Profit After Taxes 269,553 (7,272) 2,834 3,169 2,188 (2,056) (2,188) 266,228 450,088 31,506 418,582 19,014 437,596 122,527.00 315,069 Balance Sheet Group: Current Period 5 Previous Period ASSETS Current Assets Cash Accounts Receivable - Trade Accounts Receivable - Retention Inventory 355,022 526,074 29,833 41,836 204,558 399,393 25,834 38,840 52,323 18,422 9,333 23,294 1,056,137 45,684 13,484 4,998 12,467 745,258 Cash and Profits in Excess of Billings Notes Receivable Pre-paid expenses Other current assets Total Current Assets Fixed Assets Land Buildings Construction Equipment Trucks and Autos Office Equipment Total Fixed Assets Less accumulated depreciation (Negative Value) Net Fixed Assets Other Assets Total Assets 184,555 138,080 153,252 89,320 49,808 615,015 126,285 123,392 129,160 25,754 32,587 437,178 (10,573) 604,442 177,765 1,838,344 (11,411) 425,767 170,586 1,341,611 LIABILITIES Current Liabilities Accounts payable - trade Accounts payable - retention 429,190 20,256 358,274 10,900 57,143 27,541 16,287 12,801 6,705 33,706 8,950 8,064 5,937 6,460 Billings in excess of costs and profits Notes payable Accrued payables Accrued taxes Accrued vacation Capital lease payable Warranty reserves Other current liabilities Total Current Liabilities Long-Term Liabilities Long-Term Liabilities Total Liabilities Owner Equity Capital stock Retained earnings Current Period Net Income Total Equity 47,156 42,119 659,198 44,822 35,149 512,262 88,214 747,412 53,486 565,748 11,870 1,079,062 10,000 765,863 - 1,090,932 775,863 Total Liabilities & Stockholder Equity 1,838,344 1,341,611