Will you explain your answer please? I know it is a pretty straight forward assignment but I am just stuck. Thanks!

A C D E 1 Chapter 3 The Income Statement 2 Excel Project 3 Enter the Journal entries for the five transactions and then determine the company's Net Income. 4 5 M3-14 6 7 a. Cash (+A) 25,000 8 Common Stock (+SE) 25,000 9 10 b. Utilities Expense (+E, -SE) 11 Accounts Payable (+L) 12 Salaries and Wages Expense C. 13 (+E, SE) 14 Cash (-A) 15 16 d. Accounts Receivable (+A) 17 Service Revenue (+R, +SE) 18 Repairs and Maintenance e. 19 Expense (+E, -SE) 20 Cash (-A) 21 22 Calculate Preliminary net income 23 24 25 M3-15 26 27 a. Accounts Receivable (+A) 200 28 Service Revenue (+R, +SE) 200 29 30 b. Advertising Expense (+E, -SE) 31 Cash (-A) 32 33 c. Cash (+A) 34 Service Revenue (+R, +SE) 35 36 d. Utilities Expense +E, -SE) 37 Accounts Payable (+L) 38 39 e. Accounts Receivable (+A) 40 Service Revenue (+R, +SE) 41 42 43 Calculate the Preliminary net income 44 45 46 F G A B C D E 1 Chapter 3 The Income Statement 2 Excel Project 3 Determine account type, the normal balance of the account and what financial statement it appears on 4 Account Type Normal Balance 5 Financial Statement 6 Accounts Receivable Asset Dr Balance Sheet 7 Sales Revenue 8 Supplies 9 Accounts Payable 10 Advertising Expense 11 Common Stock 12 Deferred Revenue 13 Equipment 14 Dividends 15 Prepaid Insurance 16 Cost of Goods Sold 17 Interest Expense 18 Land 19 Rent Revenue 20 Depreciation Expense 21 Retained Earnings 22 Supplies Expense 23 24 25 26 The Cash Flow Statement does not list accounts but changes within the accounts so for 27 this exercise do not worry about listing Cash Flow Statement for any of the accounts 28 29 **Dividends are temporary accounts that are classified as an Equity account, the only financial statement it appears on 30 is The Statement of Retained Earnings and then at the end of the period it is closed into Retained Earnings. 31 Do not worry too much about understanding Dividends at this point and we will be discussing that account in more detail later. 32 22