1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references to select account titles and amounts to be included on the income statement. Note: List revenues and expenses in order of largest to smallest dollar amounts. 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or "Net Loss" as appropriate based on the value calculated in cell C42. READING READINESS Company Income Statement For the Month Ended January 31, 20X1 Revenues: Test Prep Revenue Tutoring Revenue Other Revenues Total Revenues Expenses: Operating Expense Salaries Expense Rent Expense Other Expenses Insurance Expense Total Expenses $ 15,400 9,100 6,050 30,550 11,800 6,882 4,800 3,482 1,350 28,314 2,236

1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references to select account titles and amounts to be included on the income statement. Note: List revenues and expenses in order of largest to smallest dollar amounts. 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or "Net Loss" as appropriate based on the value calculated in cell C42. READING READINESS Company Income Statement For the Month Ended January 31, 20X1 Revenues: Test Prep Revenue Tutoring Revenue Other Revenues Total Revenues Expenses: Operating Expense Salaries Expense Rent Expense Other Expenses Insurance Expense Total Expenses $ 15,400 9,100 6,050 30,550 11,800 6,882 4,800 3,482 1,350 28,314 2,236

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Description: XSD.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchcel-Extra Credit iQuestion 1 - Ch 02 Excel-Extra Cr xD+Z323334353637383940414243^^Trial BalanceABCD20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use c

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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