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How to do this cash flow statement on excel? step by step PROBLEM 12-12A Prepare a Statement of Cash Flows [LO12-1, LO12-2] A comparative balance
How to do this cash flow statement on excel? step by step
PROBLEM 12-12A Prepare a Statement of Cash Flows [LO12-1, LO12-2] A comparative balance sheet and an income statement for Burgess Company are given below: Statement of Cash Flows Burgess Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ $ 49 645 660 79 580 615 1,354 1,515 765 1,274 1,466 641 825 $2,099 750 $2,104 Assets Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 250 190 $ 155 165 70 76 516 450 966 390 620 1,010 161 977 161 928 1,138 1,089 $2,099 $2,104 $3,600 2,550 Burgess Company Income Statement (collars in millions) Net sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment. Income before taxes Income taxes 1,050 875 175 3 178 63 $ 115 Net income. Burgess also provided the following information: 1. The company sold equipment that had an original cost of $13 million and accumulated depreciation of $8 million. The cash proceeds from the sale were $8 million. The gain on the sale was $3 million. The company did not issue any new bonds during the year. The company paid a cash dividend during the year. did not complete any common stock transactions during the year. 4. The company Required: Using the indirect method, prepare a statement of cash flows for the year
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