Using the two attachments:
1. Prepare an analysis of the PACCAR transactions, employing the equations approach demonstrated in Exhibit 16-1 Show all amounts in millions of dollars ( simplicity, only a few major transactions are illustrated here.)
2. Prepare an income statement for the month ended January 31 and balance sheet as of January 31. Ignore income taxes
In an Excel format, the response shows the journal entries, the balance sheet and the income statement.