Using your spreadsheet from Part $1,$ assume the following information and change your spreadsheet setup $/$formulas as needed to solve for the missing values. $($Remember$,$ only use cell referencing and formulas$).$

Required:

Complete the table below based on your results:

$\backslash$table$[[$Revenues$,],[$Beginning Retained Earnings,$],[$Net Income $($Relationship Number $2),],[$Liabilities$,],[$Retained Earnings $($Relationship Number $3),]]$

Which formula would be incorrect in arriving at Retained Earnings in Relationship Number $3?$

$=G18$

$=J15-J16-J17$

$=G15+G16-G17$

$=G18-G15+G17$

Assume the Net Income was actually a Net Loss of $$13,500,$ Expense were $$62,800,$ Beginning Retained Earnings was $$77,000,$ and Ending Retained Earnings was unknown. Which of the following amounts will change?

Ending Retained Earnings only

Revenues and Common Stock

Ending Retained Earnings and Common Stock

Ending Retained Earnings and Revenue

What is the revised ending balance in Retained Earnings?

$$50,000$

$$59,300$

$$69,300$

$$58,300$