prepare an income statement using the info from the top sheet into the bottom sheet must use formulas

XES, FILE HOME Preparing an income statement - Excel FORMULAS DATA REVIEW INSERT PAGE LAYOUT VIEW of Calibri Paste Cells Eo 11 B IU- P- Font X A A - A - Alignment Number Conditional Format as Cell - Formatting* Table Styles Styles for Clipboard F33 Accounts Payable Accounts Receivable Cash Equipment Income Tax Expense Operating Expense Other Expenses Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 8,088 6,960 13,445 4,800 1,350 11,800 3,482 6,050 4,800 6,882 17,200 15,400 9,100 1,046 19 Required: 20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 21 to select account titles and amounts to be included on the income statement. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Inco "Net Loss" as appropriate based on the value calculated in cell C42. READING READINESS, INC. "AA B I U . A . Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Font | X F The list below shows select accounts for Reading Readiness, Inc. as of January 31, equired: Prepare an Income Statement for the month ended January 31, 20X1. Use cell references > select account titles and amounts to be included on the income statement. ote: List revenues and expenses in order of largest to smallest dollar amounts. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income or Net Loss" as appropriate based on the value calculated in cell 042. READING READINESS, INC. Income Statement For the Month Ended January 31, 20X1 Revenues: Total Revenues Expenses: Total Expenses ... Sheet1 ... + EADY tempt(s)