Reguirements: 1) Using the data below, create a multi-step GAAP Income Statement in appropriate professional Excel format (i.e., use cell referencing and formulas, no hard coding numbers). 2) All account titles and Subtotals should be added using cell referencing. Grading: 10 possible points This spreadsheet contains macros which will provide real time feedback on EACH cell that you enter in the Solution. There are 51 cells which get graded, and your score on this assignment will be calculated based upon the % ofthe 51 cells that are completed correctly. Inga 1) The P&L header should start in cell F23 and the first line of data should be in row 27. The Earnings Per Share header should be in cell F48 with the first line of data in row 49 2) All expenses should be included as negative numbers 3) lfthere is more than one line item in a category in the P&L where there is flexibility in the order, list the line items in alphabetical order 4) All amounts should be included in column G 5) Earnings Per Share should be taken to two decimal places % Solution Nguyen Corp I 12/31/25 I Debit CLdit Common Dividends Paid $80,000 Cost of Goods Sold $850,000 Dividend revenue $60,000 Gain on Sale of Discontinued Operations $200,000 Gain on Sale of Equipment $70,000 Restructuring charge $10,000 Gain on Sale of Equipment Restructuring charge $10,000 Interest Expense $100,000 Loss on Discontinued Operations $75,000 Net Sales Revenue Preferred Dividends Paid $100,000 Selling & Admin Expense $540,000 Additional information: Tax rate 20% Common Shares Outstanding 12/31/25 1,000,000 Preferred Shares Outstanding 12/31/25 800,000 Possible account titles and subtotal headings for the P&L [cell reference from here, some may be used more than once! Cost of Goods Sold Discontinued Operations Dividend Revenue Earnings per share Gain on Sale of Discontinued Operation Gain on Sale of Equipment Gross Margin Income from Continuing Operations Income from Continuing Operations Before Taxes Income from Operations Income Statement Interest Expense Less Income Tax Expense Loss on Discontinued Operations Net Income Net Sales Revenue Net tax expense on disc operations Other Expenses and Losses Other Revenues and Gains Restructuring Charge Selling & Administrative Expenses Total Discontinued Operations After Tax Year Ended 12/31/25 $70,000 $1,870,000 \f