help and how do i enter in Excel

We Really Love Cash, Co. Income Statement For the Year ended December 31, 2020 2019 $20,000 14,000 20,000 78,000 24,000) $108,000 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242,000 175,000 67,000 24,000 43,000 3,000 40,000 8,000 $32,000 15 The points available for each row requiring input are noted in column on the temps 16 We Really Love Cash, Co. 18 Comparative Balance Sheet 19 December 31 20 21 2020 22 Assets 23 Cash 339,000 24 Accounts Receivable 30,000 25 Inventory 27,000 26 Equipment 60,000 27 Accumulated depreciation equipment (29,000 28 Total Assets $127,000 29 30 Liabilities and Stockholders' Equity 31 Accounts payable $24,000 32 Income taxes payable 7,000 33 Bonds payable 27,000 Common stock 18,000 35 Retained earnings 51,000 36 Total Liabilities and Stockholders' Equity $127,000 37 38 39 Additional data: 40 1. Dividends declared and paid were $19,000. 41 2. During the year equipment was sold for $6,500 cash. This equipment cost $18,000 42 originally and had a book value of $6,500 at the time of sale. 43 3. All depreciation expense, $16,500, is in the operating expenses. 44 4. All sales and purchases are on account 45 46 47 $15,000 8,000 33,000 14,000 38,000 $108,000 48 We Really Love Cash, Co. Income Statement For the Year ended December 31, 2020 14 15 The points available for each row requiring input are noted in Column G on the template in the next tab. 16 17 We Really Love Cash, Co. 18 Comparative Balance Sheet 19 December 31 20 21 2020 2019 22 Assets 23 Cash $39,000 $20,000 24 Accounts Receivable 30,000 14,000 25 Inventory 27.000 20,000 26 Equipment 60,000 27 Accumulated depreciation--equipment 78,000 (29,000 24,000) 28 Total Assets $127.000 $108,000 29 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242,000 175,000 67,000 24,000 43,000 3,000 40,000 8,000 $32,000 30 Liabilities and Stockholders' Equity 31 Accounts payable $24,000 32 Income taxes payable 7,000 31 Bonds payable 27,000 34 Common stock 18,000 35 Retained earning 51.000 36 Total Liabilities and Stockholders' Equity $127,000 37 3 39 Additional da 40 1. Dividends declared and paid were 319,000 412. During the year equipment was sold for $6,500 cash. This equipment cost $18,000 42 originally and had a book value of $6,500 at the time of sale. 43 3. All depreciation expense, 316,500, is in the operating expenses 44 4. All sales and purchases are on account $15,000 8,000 33,000 14,000 38,000 S108,000 46 50 B C D E 1 A) 2 3 4 5 6 We Really Love Cash, Co. Statement of Cash Flows For the year ended December 31, 2020 Cash Flows from operating Activities Net Income Adjustments to reoncile net income to Net Cash Used by Operating Activities Depreciation expense Increase in accounts receivable Increase in inventory Increase in accounts payable Decrease in Income tax payable 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 B) Free Cash Flow: 30 31 Excel Project 2 TEMPLATE + Ready A B C D E 1 Increase in inventory Increase in accounts payable Decrease in Income tax payable B) Free Cash Flow