Excel Activity: Financial Statements

Begin with the partial model in the file Ch$06$ P$20$ Build a Model.xlsx$.$

The partial balance sheets of Britton String are shown here.

Britton String Corp.: Partial Balance Sheets as of December $31$

$($Millions of Dollars$)$

answers to the nearest whole number. Use a minus sign to enter negative values, if any. Britton String Corp.: Income Statement for Year Ending

December $31,2022($Millions of Dollars$)$

Britton String Corp.: Partial Balance Sheet as of December $31$

$($Millions of Dollars$)$c$.$ Construct the statement of cash flows for $2022.$

Britton String Corp.: Statement of Cash Flows for $2022$

$($Millions of Dollars$)$

$2022$

Operating Activities

Net income

Noncash adjustments

Depreciation

Working capital adjustments

Due to change in accounts receivable

Due to change in inventories

Due to change in accounts payable

Due to change in accruals

Net cash provided $($used$)$ by operating activities

Investing Activities

Cash used to acquire fixed assets

Due to change in short$-$term investments

Net cash provided $($used$)$ by investing activities

Financing Activities

Due to change in notes payable

Due to change in long$-$term debt

Due to change in common stock

Payment of common dividends

Net cash provided $($used$)$ by financing activities

$

$\frac{?}{\text{b}\text{a}\text{r}}($$$)$

$

$

$

$

$

$\frac{?}{\text{b}\text{a}\text{r}}($$$)$ Britton String Corp.: Income Statement for Year Ending

December $31,2022($Millions of Dollars$)$

Britton String Corp.: Partial Balance Sheet as of December $31$

$($Millions of Dollars$)$

c$.$ Construct the statement of cash flows for $2022.$c$.$ Construct the statement of cash flows for $2022.$

Britton String Corp.: Statement of Cash Flows for $2022$

$($Millions of Dollars$)$

$2022$

Operating Activities

Net income

Noncash adjustments

Depreciation

Working capital adjustments

Due to change in accounts receivable

Due to change in inventories

Due to change in accounts payable

Due to change in accruals

Net cash provided $($used$)$ by operating activities

Investing Activities

Cash used to acquire fixed assets

Net cash provided $($used$)$ by investing activities

Financing Activities

Due to change in notes payable

$

Due to change in long$-$term debt

Due to change in common stock

Payment of common dividends

Net cash provided $($used$)$ by financing activities

Summary

Net increase$/$decrease in cash

$

Cash at the beginning of the year

Cash at the end of the year