Apply: balance sheets and income statements

MUST READ & FOLLOW INSTRUCTION! MUST USE EXCEL SPREADSHEET ATTACHED!

INSTRUCTIONS:  

Complete parts A and B of this exercise.  Examples can be found in Chapter 21 of your textbook.  Be sure to notice that Part A is a balance sheet and Part B is an income statement.  Also, be sure to note that the most recent year is shown on the left in these financial statements.  Formulas and examples for interpretation of results can be found in Table 21-1 of your textbook or the last worksheet tab of this file.