ABC Company History and ABC Financial Data Excel spreadsheet and Adjusted Balance Sheet and Income Statement from the Week 4 individual assignment Prepare the Direct and Indirect Statements of Cash Flow using the Adjusted Balance Sheet and Income Statement from the Week 4 Individual Assignment. Submit the Direct and Indirect Cash Flow Statements in a Microsoft Excel spreadsheet

The following data is available for your computation of the cost of goods sold and the ending inventory Date Description No. of Units Cost Per Unit 1-Jan Beginning Inventory 5-Jan Purchase 25-Mar Purchase 8-Jun Purchase 15-Sep Purchase 15-Dec Purchase Total Value of goods available for sale 800 950 950 745 625 505 4,575 Total Cost 14.39 13.46 12.81 13.65 13.25 14.97 Required; Compute the cost of goods sold for the year ended Dec.31,2011 and the ending inventory under the following cost assumptions; a) First in First Out Units 3,765 810 Amount $ 50877.75 11,601.10 3,765 810 50,832.25 11,646.60 3,765 810 Cost of Goods Sold Ending Inventory 51,417.02 11,061.83 b) Last in First out Cost of Goods Sold Ending Inventory c) Average cost method Cost of Goods Sold Ending Inventory Journal Entry Particulars Amount $ Cost of Goods Sold Inventory Amount $ 51,417 51,417 b. The following data will be used for your computation of depreciation expense using the straight line method. Plant Cost Life 660,000 22,000 30 Amount of Depreciation Machinery & equipment Amount of Depreciation 79,000 3,950 20 Truck Amount of Depreciation 42,000 6,000 7 Journal Entry Particulars Amount $ Depreciation Expense Accumulated Depreciation on Plant Accumulated Depreciation on Machinery & equipment Accumulated Depreciation on Truck Amount $ 31,950 22,000 3,950 6,000 Journal Entry Particulars Amount $ Retained Earnings Deferred Tax Liability Accumulated Depreciation 1,505 Inventory Deferred Tax Liability Retained earnings Trial Balance (Balance Sheet Accounts Only) Cash and Cash Equivalents Receivables, net Inventory Other Current Assets Property and Equipment, at cost Accumulated Depreciation and Amortization Goodwill Deferred Tax Asset Accounts Payable Accrued Salaries and Related Expenses Sales Taxes Payable Deferred Revenue Income Taxes Payable Current Installments of Long-Term Debt Other Accrued Expenses Long-Term Debt, excluding current installments Other Long-Term Liabilities Deferred Tax Liability Paid-In Capital Retained Earnings Accumulated Other Comprehensive Income Treasury Stock Common stock Total Data Needed For Preparation of Week 2 Income Statement Net Sales Cost of Sales Selling, General and Administrative Depreciation and Amortization Interest and Investment Income Interest Expense Provision for Income Taxes Amount $ 903 602 1,285 514 771 2013 2012 4,960.00 1,398.00 12,346.83 895.00 36,033.00 (15,684.00) 1,289.00 88.00 (5,797.00) (1,428.00) (396.00) (1,337.00) (12.00) (33.00) (1,746.00) (14,691.00) (2,042.00) (457.00) (8,402.00) (23,180.00) (46.00) 19,194.00 (88.00) 864.83 2,494.00 1,413.00 11,512.00 900.00 38,491.00 (17,473.00) 1,046.00 473.00 (5,192.00) (1,200.00) (472.00) (1,262.00) 107.00 783.00 (1,794.00) (9,475.00) (2,029.00) (545.00) (7,948.00) (20,038.00) (397.00) 10,694.00 (88.00) - 78,812.00 51,417.02 16,597.00 33,545.00 (12.00) 711.00 (3,082.00) 74,754.00 48,912.00 16,508.00 1,568.00 (87.00) 632.00 (2,686.00) 11,512.00 12,787.00 12,169.50 10,169.25 8,281.25 7,559.85 62,478.85 Statement of Retained Earnings: Particulars Retained Earnings, January 1 Prior Period Adjustment Understated depreciation Change in inventory method Retained Earnings, as adjusted Add: Net income Retained Earnings, December 31 Amount $ 20,038 (903) 771 19,906 $7,957 27,863 Statement of Comprehensive Income: Particulars Revenue: Net Sales Cost of Sales Gross Profit Operational Expenses: Selling, General, Administrative Depreciation and Amortization Total Operating Expense Operating Income Interest Income Interest Expense Income Before Taxes Income Tax Expense Net Income Amount $ $78,812 $51,417 $27,395 $16,597 1626.95 18223.95 $9,171 ($12) $711 $8,472 $515 $7,957 Statement of Owners Equity: Particulars Paid-In Capital Retained Earnings Accumulated Other Comprehensive Income Less Treasury Stock Common stock Total Owner's Equity, Dec 31 2013 Amount $ 8,402 27,863 46 (19,194) 88 17,205 Calculate Foreign Currency Translation : Date Particulars Canadian Dollar Exchange Rates US Dollar Gain/Loss 12/31/2010 Cost of Canadian Subsidiary 5250 1.00529 5277.77 -27.77 12/31/2011 Interest in the subsidiary @100% (Last year value) 5277.77 0.978857 5166.18 111.59 12/31/2012 Interest in the subsidiary @100% (Last year value) 5166.18 1.003179 5182.61 -16.42 12/31/2013 Interest in the subsidiary @100% (Last year value) 5182.61 0.940531 4874.40 308.20 Total 375.60