Edward Rashleigh is a corporate accountant with Noble Inc., a small independent book publisher and retailer. Noble has a small storefront and operates an e-commerce site. Edward joined Noble in July of Year 2 (the current year) and is preparing the companys year-end financial statements in accordance with ASPE. He has been asked to prepare the cash flow statement using the direct method. Edward has prepared the following: Appendix I, balance sheet Appendix II, income statement Appendix III, excerpts from the notes to the financial statements Complete the task in the Excel Task file. Intermediate Financial Reporting 1 Unit 1 Task-Based Simulation #1 Simulation 2 / 4 Appendix I: Balance sheet Noble Inc. Balance sheet As at December 31 Year 2 Year 1 Draft prepared by management Audited ASSETS Current assets: Cash $ 2,406 $ 17,635 Accounts receivable 379,802 244,477 Inventory 283,906 195,632 Prepaid expenses 26,744 30,611 692,858 488,355 Property, plant, and equipment (net) 840,250 914,355 $1,53