CASE B:

Consult the A Case to obtain all the information that is required to prepare the forecast for the month of February. Also, in addition to the details provided in the A Case, the company has decided to purchase equipment for $2,000 in cash at the end of February (no depreciation related to this purchase will be recorded in February). Include this planned purchase in the February forecast. Forecasted sales for the month of March 2021 are $40,000. A workbook which includes data from the month of January and additional rows for the month of February has been provided for your use. The workbook includes four tabs. The first tab is labeled Transactions and the remaining three tabs are each identified with a financial statement. Required: A. (39 points) Using the workbook provided, record the economic events forecasted for the month of February, 2021 and compute the account balances as of February 28, 2021. Be certain that your column totals link to the template for the Balance Sheet. B. (5 points) Using the workbook provided, in the appropriate tab prepare in good form an Income Statement for the month ended February 28, 2021. C. (6 points) Using the workbook provided, in the appropriate tab prepare in good form a Cash Flow Statement for the month ended February 28, 2021.

The Nibelungen Rings, B Case is a continuation of the Nibelungen Rings, A Case and relies upon all the data and information (e.g., regular monthly expenses and methods for ordering inventory) provided in the Nibelungen Rings, A Case. Another link to the A case is provided below.

Consult the A Case to obtain all the information that is required to prepare the forecast for the month of February. In addition to the details provided in the A Case, the company has decided to purchase equipment for $2,000 in cash at the end of February (no depreciation related to this purchase should be recorded in February). Include this planned purchase in the February forecast. Forecasted sales for the month of March 2021 are $40,000. This information is summarized in the which you can download from this link.

Required steps:

1. In the first tab of the Workbook labeled "Transactions," complete the spreadsheet by recording the economic events forecasted for the month of February 2021 in the section provided.
2. In the second tab of the Workbook labeled "Balance Sheet," review the balance sheet that was created using the column totals in the final row of the spreadsheet. Make certain this statement is linked to your "Transactions" spreadsheet, thus no additional effort is required to create the Balance Sheet as of February 28, 2021.
3. In the third tab of the Workbook labeled "Income Statement," prepare in good form an income statement for the month ended February 28, 2021.
4. In the fourth tab of the Workbook labeled "Cash Flow Statement," prepare in good form a cash flow statement for the month ended February 28, 2021.
5. Submit the completed Workbook.