Please write in excel

1. The Russo Theater, owned by Alan Russo, will begin operations in March. The Russo will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Russo showed Cash $8,000, Land $21,000, Buildings (concession stand, projection room, ticket booth, and screen) $10,000, Equipment $8,000, Accounts Payable $7,000, and Share Capital Ordinary $40,000. During the month of March, the following events and transactions occurred. Mar. 2 Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,500, $1,000 was paid in cash and $2,500 will be paid on March 10. 3 Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $240 per night. 9 Received $4,000 cash from admissions. 10 Paid balance due on Indiana Jones movies rental and $1,600 on March 1 accounts payable. 11 Russo Theater contracted with M. Brewer to operate the concession stand. Brewer is to pay 15% of gross concession receipts (payable monthly) for the right to operate the concession stand. 12 Paid advertising expenses $450. 20 Received $5,000 cash from customers for admissions 20 Received the Lord of Rings movies and paid the rental fee of $2,400. 31 Paid salaries of 52,500. 31 Received statement from M Brewer showing gross receipts from concessions of $5,000 and the balance due to Russo Theater of 5750 ($5,000 3 15%) for March. Brewer paid one-half the balance due and will remit the remainder on April 5. 31 Received $9,000 cash from customers for admissions. Required: Prepare journal entries 17 points) b) Prepare Income statement from the results of transactions (5 points) c) Prepare Balance sheet (5 points) a) 2. Which operotions should you odd to operating activity and why? (2 points)