Can you help me with this quckly please?

THE BUSINESS This practice set is designed in two parts. The first part provides a review of the financial statements of a corporation selling surfboard tables. Stevie's Surfboard Tables, Inc., primary operation is the sale of surfboard tables. A financial analysis and Statement of Cash Flow will be required. In the second part, Stevle's Surfboards, Inc. will expand to include the manufacturing process of manufacturing the surfboards. All cases of academic dishonesty will be reported to the Office of Student Life. PART ONE INSTRUCTIONS The financial information for the past two years (2020 and 2019) is provided. Using a spreadsheet application, such as Microsoft Excel, and the information from the previous years, provide the following: 1. Prepare a statement of Cash Flows for the current year using the indirect method. Use the following template. 2. Using horizontal analysis, prepare a Comparative Balance Sheet.Copy the financial statements on Blackboard into an Excel spreadsheet and insert a column to add the percentages. 3. Using vertical analysis, prepare a Comparative Income Statement. Copy the financial statements on Blackboard into an Excel spreadsheet and insert a column to add the percentages. 4. Using the financial statements in the practice set (located on Blackboard), calculate the ratios below: (Use the following templates shown here in the practice set) a. Working Capital both years b. Current Ratio both years c. Quick ratio both years d. Accounts Receivable Turnover 2020 Number of Days Sales in Receivables 2020 (Company policy states 30 days in receivables) f. Inventory Turnover 2020 8. Number of Days Sales in Inventory 2020 (Company policy states 50 days to turn over inventory) h. Ratio of Liabilities to Stockholders' Equity 2020 i. Return on Total Assets 2020 J. Return on Stockholders' Equity 2020 e. 4 Page k. Earnings Per Share 2019 and 2020 SOCIETY The financial statements provided in this practice set can also be downloaded from Blackboard, Download the Excel files (Income Statement and Balance Sheet) from Blackboard and add a column and calculate the ratios for the vertical and horizontal analysis. 5. Acting as an accounting advisor to the firm, prepare a memo in which you analyze the financial statements you prepared in step two and prepare an analysis of the company's financial position. Identify two strengths and two weaknesses in the company. Make two recommendations to improve the company's financial position. Be specific in each of the recommendations and use as many of the ratios calculated in a-k and the vertical and horizontal analysis to support your explanation and analysis. If you do not use the ratios in your answer you will not credit for the memo. The length should be no more than three paragraphs; one for strengths, one for weaknesses and one for recommendations. 6. Blackboard Instructions a. Memo analyzing the company's strengths and weaknesses with two recommendations. Write your memo in a Word document using ratios to analyze the strengths and weaknesses of the company. Make sure there are no speling, grammatical, or punctuation errors. Once it is completed make sure that you print it out and then rewrite it in Blackboard. Add information concerning numbers using the format as shown here below and enter it into Blackboard as specified: b. When the answer is in units enter the number as is (See example below) 1 280 c. When the answer is for ratios tie. Current ratio) and has a decimaltake it out two decimal spaces (See example below) 280.89 d. When ratios are in days/times take out to two decimal places and write days or times after the number (See example below) 1. 280.96 days or times e. When the answer is in dollars ALWAYS include a dollar sign, comma in the dollar amount and cents as shown below: i $280.83 or $3,800,44 or $480.00 or $3,600.00 Please follow all instructions. If the answers are formatted incorrectly the answer will be counted wrong. Statement of Cash Flow Template Please prepare a statement of Cash Flow as shown below using Excel. Input answers in the last column. After you answer all questions on Blackboard upload the Statement of Cash Flows, prepared in Excel, to Blackboard. Answers Stevie's Surfboard Tables, Inc. Statement of Cash Flow For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to net cash flow from operating activities ladd Depreciation Amortization Loss Gain or Loss Changes in current operating assets and liabilities Net Cash Flow from Operating Activities Cash Flows from Investing Activities Cash received from sale Less cash used for purchases Net Cash Flow from Investing Activities 61 Page Cash Flow from Financing Activities Cash received from issuance of stock Less cash paid dividends or long-term debt Net Cash Flow from Financing Activities Increase or decrease in cash Cash at the beginning of the year Cash at the end of the year ACCOUNTING SOCIETY Stevie's Surfboard Table Solution Ratios Working Capital 2020 2019 Ratios 429,700 240,500 270.000 168,000 159,700 72,500 Current Ratio 2020 2019 Quick Ratio 2020 2019 Account Receivable Turnover 2020 Number of Days Sales in Receivables 2020 Inventory Turnover 2020 Number of Days Sales in Inventory 2020 Ratio of Liabilities to S/E 2020 2019 Return on Total Assets 2020 Return on SE 2020 Earnings per share 2020 2019 8 Page CCOUNTING OCTETY COMPARATIVE BALANCE SHEET Stevie's Surfboard Tables, Inc. Comparative Balance Sheet December 31, 2020 and 2019 2019 2020 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Rent Total Current Assets 200,000 100,000 100,000 9.700 10.000 $419,700 60,000 150,000 70,000 500 30.000 $310,500 Property, plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets 350,000 (20.000) $280,000 $699,700 235,000 165.000) $170,000 $480,500 91 Page 2020 2019 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Unearned Revenue Salaries Payable Federal Income Taxes Payable Total Current Liabilities 75,000 60,000 40,000 25000 $200,000 105,000 75,000 42,000 16.000 $238,000 Long Term Liabilities Note Payable Total Liabilities 132 200 $332,200 78.000 $316,000 20.000 Stockholders' Equity: Common Stock, $10 Par Paid-In Capital in Excess of Par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 70,000 30,000 267.500 $367,500 $699,700 144 500 $164,500 $480,500 10 | Page A MDN Stevie's Surfboard Tables, Inc. Comparative Statement of Income For the Years Ended December 31, 2020 and 2019 2020 2019 935,000 610,000 $325,000 650,000 475.000 $175,000 Sales Cost of Goods Sold Gross Margin Operating Expenses: Salaries and Wages Expense Rent Expense Depreciation Expense Total Operating Expenses Income from Operations Gain on Sale of Equipment Interest Expense Increase (Decrease) in Operating Income Income before Taxes Federal Income Taxes Net Income 100,000 20,000 10.000 $130,000 $45,000 86,000 30,000 15.000 $131,000 $194,000 3,000 2000) (6.000) 190,000 (57.000) $133,000 (5,000) 15.000) 40,000 (12,000) $28,000 11 Pace COMPARATIVE STATEMENT OF RETAINED EARNINGS Stevie's Surfboard Tables, Inc. Comparative Statement of Retained Earnings For the Years Ended December 31, 2020 and 2019 2020 2019 Retained Earnings, Beginning 144,500 116,500 of Year Net Income 133,000 28,000 Less: Dividends ? 0 Retained Earnings, End of Year $267,500 $144,500 1. Equipment with a cost of $87,000 on which $10,000 of depreciation has been recorded, was sold for cash. Additional equipment was purchased for cash and a note payable. 2. Stock was issued for cash. 3. The dividends were paid in cash