URGENT PLEASE HELP ANSWER W CELL FORMULA

B C D E 1 Note: To complete the assignment, go to the worksheet tab labeled Cash Flow 2 and complete the statement of cash flows. 3 4 INNOVATION ELECTRONICS, INC. Income Statement 5 6 For the Year Ended December 31, 20X2 $ 2,430,000 6,500 2,436,500 $ 1,565,000 598,000 16,000 17,000 63,000 2,259,000 177,500 7 8. 9 10 11 12 13 14 15 16 17 18 28722 19 20 21 23 Net sales Gain on sale of land Total revenues Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Expenses: Net income $ 5 1 Note: To complete the assignment, go to the worksheet tab labeled Cash Flow 2 and complete the statement of cash flows. 3 Note: Additional information is included at the bottom of the statement. 4 INNOVATION ELECTRONICS, INC. 5 Balance Sheet 6 At December 31 20X2 20X1 8 Assets 9 Current assets: 10 Cash $ 184,420 $ 11 Accounts receivable 68,700 12 Inventory 134,500 13 Prepaid insurance 2,980 14 Long-term assets: 15 Investments 211,000 16 Land 208,500 17 Equipment 203,000 18 Accumulated depreciation (117,500) 19 20 Total assets $ 895,600 $ 21 22 23 Liabilities and Stockholders' Equity 24 Current liabilities: 25 Accounts payable $ 26,500 $ 25,740 83,000 128,000 4,560 120,000 255,000 203,000 (101,500) 717,800 81,000 X education.com/mapfindex.htmit.con-con&external browser 0&launchUrl=http%253A%252F% How To Start Wor TI-84 Oraphing CE The role of norma Maps Image result for w... Entant Data Assignment 31 Seved Calle Fu Alignment Number Conditional Formata Cet Formatting table Styles- 16 Sye C AI Note: To complete the assignment, go to the worksheet tab L C D E 24 Carem liabilities S 81000 35 Accounts payable Interest payable 26.500 S 3400 23 32.500 30,200 Income tax payable 28 Long-term liabilities 29 Notes payable 255.000 342.000 30 Stockholders' equity 31 Common stock 273,000 230,000 Retained earnings 307 500 130,000 33 Total liabilities and stockholders' equity 895,00 S 717,800 25 36 Addmonal Information for 20X2 371. Assume that all increases and decreases in long term assets, long term liabilities, Mand common stock are a result of cash transactions 29 2. Land costing $46,500 was sold, resulting in a gain of $6,500. No other 40 long term assets were sold. 413. Additional long-term investments were purchased 4. An additional long-term note payable was signed. No repayments on 43 notes were made. 44 5. Additional common stock was issued 46 48 Income Statement Balance Sheet 80 222 13 FA F -% * W # 3 E A 54 R % 65 Cash Flow RT 226 FS