*View the tutorial, then complete the worksheet, replacing the question marks below with formulas. Part 1: Assume a company has the following account balances at year end (except for Retained earnings which is the beginning balance). Create an income statement and balance sheet, replacing the question marks with formulas. Glven Information: Expenses $ Assets: Advertising Expense Insurance expense Salaries expense Rent expense 10,000 16,000 45,000 6,000 Cash Accounts receivable Supplies Land $ 22,000 20,000 11,000 45,000 Liabilities: Revenues: Salaries payable Notes payable 8,000 20,000 Service revenue Interest revenue 90,000 5,000 Dividends: Dividends 5,000 Equity Common stock Retained earnings 40,000 17,000 (b) Balance Sheet Assets: 2 2 2 2 Liabilities: ? 2 ? ? ? ? ? ? ? 2 la Income Statement Revenues: 2 2 ? ? Total Revenue Expenses: 2 2 2 2 2 2 2 2 2 ? Total Expenses Net income Equities: ? ? Total 2 ? 2 Total 2 Assets 2 Liabilities + Equities 2 ? *Use a conditional statement to return 'equals' If the balance sheet is in balance or 'not equals' if it is not