Create the Balance Sheet,Income Statement and Statement of Retained Earnings for the following company in an Excelworkbook, employing three sheets. Use the prescribed GAAP presentation for the financial statements. When possible reference/link data across sheets to make the spreadsheet as dynamicas possible.
Demonstrate your ability to apply Excel formatting functions to cells and to theoverall report, consistent with the GSMT Expectations for Excel posted under Course Content.Use formulas to perform the calculations (ie SUM, AVG, GEOMEAN, etc) and apply theOutliner feature as appropriate.1) Prepare the company's balance sheet at January 31, 2010.
Use an appropriate formula tocompute ending retained earnings.
2) From the balance sheet, create a pie chart for Total Assets. Employ best practices inpresenting charts.
3) Prepare the company's income statement for the year ended January 31, 2010.
4) Prepare a statement of retained earnings and calculate the company's dividend for theyear.
Company Data:Amounts of the assets and liabilities of DolanBanking Company, as of January 31,2010, are given as follows. Also included are revenue and expense figures for the yearended on that date (amounts in millions):
Total revenue........................ $ 37.8
Investment assets..................... $169.6
Receivables........................... 0.9
Property and equipment, net .. 1.9
Current liabilities.................. 151.1
Other expenses....................... 6.9
Common stock...................... 14.0
Retained earnings, beginning 8.6Interest expense............... 0.8
Retained earnings, ending ..... ?
Salary and otheremployee expenses.......... 17.7
Cash.......................................... 2.1
Long-termliabilities........... 2.8
Other assets............................. 14.4