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1. Calculate the net income. ? X - Sign In FILE * Building an Income Statement - Excel HOME INSERT PAGE LAYOUT FORMULAS DATAComplete the following analysis. Do not hard code values in your answers Income Statement Sales Costs Depreciation expense EB

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Answer #1

In cell D23
enter =D7

In cell D24
enter =D8

In cell D25
enter =D9

In cell D26
enter =D23-D24-D25

In cell D27
enter =D10

In cell D28
enter =D26-D27

In cell D29
enter =D28*D12

In cell D30
enter =D28-D29

Net income will come as=(734000-315000-48000-35000)*(1-35%)=218400

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