1. Excel file work: You must use cell referencing for the input data. You must use Excel for all calculations. You will be graded on accuracy of your calculations, Excel use in calculations, formatting, and appearance. Be sure to remove grid lines.
   1. Financial Statements: Use the data sheet tab to create the following three statements.
      1. Income Statement for Year ended 2019. *See Table 2.1 in text for example. Proper form excludes row numbers and all text is in black. See rubric for details. Check figure for Earnings Available to Common = $29,363
      2. Statement of Retained Earnings for Year ended 2019. *See Table 2.2 in text for example.
      3. Balance Sheet as of December 31, 2019. *See Table 2.4 in text for example

Check figure for Total Assets = $356523

1 N 3 Kamson Income Statement 3 for year ended December 31, 2018 4 Sales $ 230,000 5 Cost of goods sold 126,500 6 Gross profit $ 103,500 7 Selling and administrative expense 24,500 8 Depreciation expense 26,000 9 Operating profit $ 53,000 10 Interest expense 20,580 11 Earnings before taxes $ 32,420 12 Taxes 8,105 13 Earnings after taxes $ 24,315 14 Preferred stock dividends 2,700 15 Earnings available to common stockhold: $ 21,615 16 17 Shares outstanding 10000 18 Earnings per share 2.16 19 $ $ 213,000 51% $ 27,000 10% 5% 6% 7.50% 25% 3,000 5,250 $ $ 1 Sales for 2019 2 Cost of goods sold as percent of sales 3 Selling and administration expenses 4 Depreciation expense as percent of plant & equipment at beginning of the year 5 Interest expense on Notes payable - based on December 31, 2017, balances 6 Interest rate on Notes payable (5 year) - based on Dec. 31, 2017, balances 7 Interest rate on Bonds payable - based on December 31, 2017, balances 8 Tax rate 9 Preferred dividends paid 10 Common stock dividends paid 11 During 2018, prepaid expenses balance was unchanged. 12 Accounts receivable increased in 2018 by 13 Inventory increased in 2018 by 14 New machine was purchased on December 31, 2018, at a cost of 15 Accounts payable increased in 2018 by 16 Notes payable (6 month) decreased at end of the year by 17 Notes payable (5 year) increased at end of the year by 18 Bonds payable decreased at end of the year by 19 Preferred stock 20 Common stock increased by 21 Paid in capital in excess of par increased by 22 Number of shares outstanding 23 During 2018, cash balance increased by 24 Market price per share of common as of December 31, 2017, was 25 Market price per share of common as of December 31, 2018, was 4% 11% $ 54,000 15% $ 2,000 $ 9,000 $ 15,000 No change $ 8,000 1% 18000 -5527 61.45 54.74 Kamson Balance Sheet for Year Ended December 31, 2018 Assets Liabilities Current Assets: Current Liabilities: Cash $60,000 Accounts payable Accounts receivable 21,000 Notes payable Inventory 31,000 Total current liabilities Prepaid expenses 12,600 Notes payable Total current assets 124,600 Bonds payable Fixed Assets: Total liabilites Plant & equipment $ 256,000 Stockholder's Equity Less: Accum. depreciatior 51,200 Preferred stock Net plant & equipment 204,800 Common stock Total Assets $329,400 Paid in capital in excess of pa Retained earnings Total Equity Total Liab. & Equity $ 18,000 26,000 44,000 12,000 $ 88,000 144,000 $ 26,000 61,000 31,000 67,400 $ 185,400 $ 329,400