• First build the P&L statement.
• Then build the Balance Sheet.
• Then build the Statement of Cash Flows.

Please fill out this financial statement spreadsheet. Please use and show formulas within the spreadsheet and explain the steps.

Thank you!

1 W13 Financial Statement Project 5 2 Projected Financial Statements For Laie Ukuleles 3 4 Assumptions 5 Price per unit $ 150 A/R % of sales 10% 6 Var Cost per unit $ 80 Inv % of COGS 25% 7 Annual Growth Rate 50% AJP % of COGS 15% 8 General expense $ 1,500 Equipment Life in months 60 9 10 Sales in Units 20 21 22 11 12 Dec Jan Feb Mar 13 P&L Statement 14 Sales 15 Cost of Goods Sold 16 Gross profit 17 General Expenses 18 Depreciation 19 Total Expenses 20 Net Income March Net Income = (31) 21 22 Statement of Cash Flows 23 Operating Activities 24 Net Income 25 Changes in Cur. Assets and Liabilites 26 Change in Accounts Receivable 27 Change in Inventory 28 Change in Accounts Payable 29 Non-cash expenses 30 Depreciation 31 Cash Flow from Operating Activities 32 33 Investing Activities 34 Change in Equipment 35 Cash Flow from Investing Activities 36 37 Financing Activities 38 Change in Notes Payable 39 Change in Capital Invested 40 Change in Less: Owner's Draw 41 Cash Flow from Financing Activities 42 43 Net increasel(decrease) in cash 44 Cash--beginning of month 45 Cash--end of month March Cash = 1,378 46 47 Balance Sheet 48 Assets 49 Cash $ 5,000 50 Accounts Receivable 51 Inventory 52 Equipment 53 Less Accumulated Depreciation 54 Total Assets $ 5.000 55 56 Liabilities 57 Accounts Payable $ 58 Notes Payable 59 Total Liabilities 60 61 Owner's Equity 62 Owner's Capital $ 5,000 63 Less: Owner's Draw 64 Retained Earnings 65 Total Owner's Equity $ 5,000 66 Total Liabilities and Owner's Equity 67 68 69 January activity 70 71 Start business with $5,000 cash which was contributed by the owner in December 72 Purchase $3,000 equipment with cash in January. Calculate depreciation over 60 months. 73 74 After completing budgeted financial statements, answer the following: 75 76 If the price per unit increases to $175, what is the profit or loss in February and the cash balance at the end of February? 77 78 79 After answering the question, change the "Price Per Unit" back to $150 and save your spreadsheet. 80