Question: Using your spreadsheet from Part 1, assume the following information and change your spreadsheet setup /formulas as needed to solve for the missing values.

Using your spreadsheet from Part 1, assume the following information and change

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). Relationship #1 Relationship #2 Revenues ? Beginning Retained Earnings Expenses Net Income 35,000 85,000 Net Income Dividends Ending Retained Earnings Required: 1. Complete the table below based on your results: Revenues Beginning Retained Earnings Net Income (Relationship #2) Liabilities Retained Earnings (Relationship #3) Relationship #3 ? Assets ? Liabilities 20,000 Common Stock 134,000 Retained Earnings 240,000 ? 42,000 ?

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