Bus Adm 202: Managerial Accounting Excel Project 2 You work in the finance department for We Really Love Cash, Co. and are preparing the yearly Statement of Cash Flows for the company. You will use the following information below to complete the statement. Directions: A) Using the information below and the template on the next tab, prepare a statement of cash flows (indirect method). B) Also using the template on the next tab, compute free cash flow. c) Respond to the anlaysis question at the bottom of the template using the information prepared in A) and B). Helpful tip: If you need a refresher on how to complete this project, watch M2 Part We Really Love Cash, Co. We Really Love Cash, Co. Comparative Balance Sheet Income Statement December 31 For the Year ended December 31, 2020 2020 2019 Sales revenue $127,900 Assets Cost of goods sold 69,800 Cash $6,200 $4,300 Gross profit 58,100 Accounts Receivable 5,200 5,500 Operating expenses 46,900 Inventory 30,000 34,200 Income from before gain and taxes 11,200 Property, plant & equipment, net 211,500 215,300 Gain on sale of equipment 900 Total Assets $252,900 $259,300 Income tax expense 800 Net income $11,300 Liabilities and Stockholders' Equity Accounts payable $1,700 $5,900 Accrued expenses 2,000 2,200 Taxes payable 2,500 2,600 Bonds payable 60,000 50,000 Total liabilities 66,200 60,700 Common stock 125,000 125,000 Retained earnings 61,700 73,600 Total Stockholders' Equity 186,700 198,600 Total Liabilities and Stockholders' Equity $252,900 $259,300 Additional data: 1. Depreciation expense of $1,900 is included in the Operating Expenses on the Income Statement. 2. Equipment with an original cost of $35,000 was sold for $20,300. The gain on sale was $900. 3. On June 1, 2020, the company purchased new equipment for cash at a cost of $17,500. 4. The company paid $23,200 in cash dividends for the year. A) We Really Love Cash, Co. Statement of Cash Flows For the year ended December 31, 2020 In order to get full points for this project: 18 Rows in blue should accurately reflect financial content worth 1 point each. 9 Cells in green on the template should utilize formulas worth 1 point each. 6 Cells in yellow show the proper format and order of the statement worth 1 point each. 2 Cells in orange provides a correct response to the analysis question. 35 Total Points available B) C) Free Cash Flow: You are in top management at We Really Love Cash, Excel Project 2 Rubric Criteria Ratings Pts 18 pts 12 pts O pts Financial Content Rows highlighted in blue on the project template should accurately reflect the financial content for that section of the Statement of Cash Flows. The description and amount must are correct for each row to get full marks. Exceeds Expectations Meets Expectations Does Not Meet 18 pts Expectations O pts Use of Formulas Cells highlighted in green on the project template should utilize Excel formulas accurately for the section that they are in. Carry through errors from financial content items will not result in deduction of points if the formulas are set up properly for the section it is in. 9 pts Exceeds Expectations 6 pts Meets Expectations Does Not Meet Expectations 9 pts 6 pts Format and Order Cells highlighted in yellow on the project template will note the proper headings for each section, the proper descriptions for totals in each section and follow the proper format of the Statement of Cash Flows. The terms "provided by" and "used by" are properly applied for descriptions of totals where applicable. Exceeds Expectations 4 pts Meets Expectations O pts Does Not Meet Expectations 6 pts 2 pts O pts Analysis Cell highlighted in orange on the project template provides the correct response to the analytical question posed. Meets Expectations Does Not Meet Expectations 2 pts Total Points: 35 Bus Adm 202: Managerial Accounting Excel Project 2 You work in the finance department for We Really Love Cash, Co. and are preparing the yearly Statement of Cash Flows for the company. You will use the following information below to complete the statement. Directions: A) Using the information below and the template on the next tab, prepare a statement of cash flows (indirect method). B) Also using the template on the next tab, compute free cash flow. c) Respond to the anlaysis question at the bottom of the template using the information prepared in A) and B). Helpful tip: If you need a refresher on how to complete this project, watch M2 Part We Really Love Cash, Co. We Really Love Cash, Co. Comparative Balance Sheet Income Statement December 31 For the Year ended December 31, 2020 2020 2019 Sales revenue $127,900 Assets Cost of goods sold 69,800 Cash $6,200 $4,300 Gross profit 58,100 Accounts Receivable 5,200 5,500 Operating expenses 46,900 Inventory 30,000 34,200 Income from before gain and taxes 11,200 Property, plant & equipment, net 211,500 215,300 Gain on sale of equipment 900 Total Assets $252,900 $259,300 Income tax expense 800 Net income $11,300 Liabilities and Stockholders' Equity Accounts payable $1,700 $5,900 Accrued expenses 2,000 2,200 Taxes payable 2,500 2,600 Bonds payable 60,000 50,000 Total liabilities 66,200 60,700 Common stock 125,000 125,000 Retained earnings 61,700 73,600 Total Stockholders' Equity 186,700 198,600 Total Liabilities and Stockholders' Equity $252,900 $259,300 Additional data: 1. Depreciation expense of $1,900 is included in the Operating Expenses on the Income Statement. 2. Equipment with an original cost of $35,000 was sold for $20,300. The gain on sale was $900. 3. On June 1, 2020, the company purchased new equipment for cash at a cost of $17,500. 4. The company paid $23,200 in cash dividends for the year. A) We Really Love Cash, Co. Statement of Cash Flows For the year ended December 31, 2020 In order to get full points for this project: 18 Rows in blue should accurately reflect financial content worth 1 point each. 9 Cells in green on the template should utilize formulas worth 1 point each. 6 Cells in yellow show the proper format and order of the statement worth 1 point each. 2 Cells in orange provides a correct response to the analysis question. 35 Total Points available B) C) Free Cash Flow: You are in top management at We Really Love Cash, Excel Project 2 Rubric Criteria Ratings Pts 18 pts 12 pts O pts Financial Content Rows highlighted in blue on the project template should accurately reflect the financial content for that section of the Statement of Cash Flows. The description and amount must are correct for each row to get full marks. Exceeds Expectations Meets Expectations Does Not Meet 18 pts Expectations O pts Use of Formulas Cells highlighted in green on the project template should utilize Excel formulas accurately for the section that they are in. Carry through errors from financial content items will not result in deduction of points if the formulas are set up properly for the section it is in. 9 pts Exceeds Expectations 6 pts Meets Expectations Does Not Meet Expectations 9 pts 6 pts Format and Order Cells highlighted in yellow on the project template will note the proper headings for each section, the proper descriptions for totals in each section and follow the proper format of the Statement of Cash Flows. The terms "provided by" and "used by" are properly applied for descriptions of totals where applicable. Exceeds Expectations 4 pts Meets Expectations O pts Does Not Meet Expectations 6 pts 2 pts O pts Analysis Cell highlighted in orange on the project template provides the correct response to the analytical question posed. Meets Expectations Does Not Meet Expectations 2 pts Total Points: 35