Excel Income Statement

Gross Revenues $2,638,438 Deductions from Revenue 0.33% Bad Debt 0.02 = % of Gross Revenues Salaries 0.51 = % of Net Revenues Supplies 0.15 = % of Net Revenues Purchased Services $296,393 Repairs & Maintenance 0.06= % of Net Revenues Question 1 Depreciation & Amortization $165,358 Other Operating Expenses 0.03 = % of Net Revenues Beginning Retained Earnings Balance $2,849,776 NOTE: All percentages here are expressed as decimals! Multiply by 100 if you want to express as a percent Using the above figures, create an income statement for Snowflake Surgical Associates for their year ended 12/31/2017 AND calculate their ending Retained Earnings balance for their 12/31/17 balance sheet. Question 2 Snowflake Surgical Associates had the following transactions associated with its accounts receivable in 2017: Beginning accounts receivable balance $260,538 Gross Revenues in 2017 $1,557,763 2017 Net Revenue Accrual % 0.61% Actual 2017 Cash Collections $934,005 Using an Excel Spreadsheet which you will submit in Question #3, calculate the accounts receivable balance for Snowflake Surgical Associates as of 12/31/2017.