i know this may seem like a lot but i'd really appreciate if someone could help me with this! ill make sure to give you thumbs up. thank you!

INSTRUCTIONS: Solve the problem below clearly, accurately, and completely using Excel. Then answer the related questions about your work in complete sentences in a Word document. Work must be complete and submitted as Excel file and Word file to Midterm Exam Part 1 Cash Flow Problem folder in Assignments in D2L no later than 10/8 at 12 noon. Late submissions are penalized 10 points for each 5 minutes late. For example, if your submission is 10 minutes late, there is an immediate loss of 20 points. Submission of completed problem and answers to related questions = maximum of 35 points of total midterm exam grade. Specifically, 35 points out of a total midterm exam of 100 points. Problem Data: Appearing below are the balance sheets for Richardson Inc. at the end of Year 1 and Year 2. Year 2 Year 1 Cash 56,700 48,000 Accounts receivable (net) 80,500 72,000 Inventories 82,300 87,000 Investments 25,000 35,000 Equipment 142,000 122,000 Accumulated depreciation (32,000) (47,000) Patents 7,100 7,800 361600 324.800 Accounts payable (merchandise creditors) Taxes payable Dividends payable Bonds Payable Common stock, $10 par Paid.in capital in excess of par-common stock Retained earnings 41,400 37,800 3,800 4,000 3,000 3,000 30,000 0 115,000 115,000 34,000 34,000 134,400 131,000 361.600 324.800 Additional information related to transactions occurring in Year 2 Cash dividends declared during Year 2 - $15,300 . . Depreciation expense on the equipment was reported on the income statement. Equipment was purchased for $50,000 cash. Fully depreciated equipment with a cost of $30,000 was discarded with no salvage value realized, Investments with a cost of $10,000 were sold for $9,700. Long term bonds were issued for cash. Net income for the year $18,700. No new investments were purchased. Patent amortization expense reported on the income statement, $700. . Based upon the problem data given above, prepare, in good form, a Statement of Cash Flows for this company for Year 2. Prepare the statement using the indirect format. Prepare the statement using Excel. Be sure all amounts reported are clearly labeled. After completing the Statement of Cash Flows, answer the following questions in complete sentences in a Word document. 1. Very briefly, in one or two sentences, explain the primary purpose of the statement of cash flows. That is, why is the statement important to the stakeholders of the business? 2. Very briefly, in one or two sentences, explain why depreciation expense appears on the statement of cash flows. 3. Did this company have an operating profit or an operating loss in Year 2? Identify which and the amount. Also, briefly explain how/from where you determined your answer. 4. Did this company have net cash inflow from operating activities or net cash outflow from operating activities in Year 2? Identity which and the amount. Also, briefly explain how/from where you determined your answer. 5. Did this company have an overall increase or decrease in cash in Year 2? Identify which and the amount. Also, briefly explain how/from where you determined your