Help me on the Finance homework. Please show me in excel.

Assume that you are a financial manager for Varsity Sweaters a wholesaler of university branded clothing to college and university book stores. On December 31, 2013 Varsity Sweaters had sold $2,500,000 in products on account to various campus book stores for year. Its collections policies are typically net 30 days. It had collected $1,000,000 by December 31, 2013. The clothing it had sold during the year had been purchased on account from various textile mills for $1,200,000 of that amount the firm had paid $950,000 as of December 31, 2013.

Enter the above financial information into Varsity Sweaters General Ledger.

Using accrual accounting and the information above in the General Ledger what is the net profit for Varsity Sweater during the year 2013?

Using cash accounting and the information above in the General Ledger what is the net cash for Varsity Sweater during the year 2013?

Which of the statements you just calculated is most useful to the financial manager? Why?