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Using Excel please answer the following:

Prepare income statement for the year ending December 31, 20Y8.

2. Prepare a statement of stockholders' equity for the year ending December 31, 20Y8.

(

Note:

The retained earnings at January 1, 20Y8, was $120,000.)

3. Prepare balance sheet as of December 31, 20Y8.

4. Prepare statement of cash flows for the year ending December 31, 20Y8. (

Hint:

You should

compare the asset and liability amounts of December 31, 20Y8, with those of December

31, 20Y7, to determine cash used in investing and financing activities. See Problem 2-3 for

the December 31, 20Y7, balance sheet amounts.)

P2-4 Financial statements Padget Home Services began its operations on January 1, 2017 (see Problem 2-3). After its second year of operations, the following amounts were taken from the accounting records of Padget Home Services, Inc., as of December 31, 20Y8. Cash ? Common stock $110,000 Dividends 50,000 Fees earned 886,000 Interest expense 7,200 Land 340,000 Miscellaneous expense 13,800 Notes payable 120,000 Rent expense 100,000 Salaries expense 380,000 Taxes expense 65,000 Utilities expense 120,000