I must see steb by step calculations! and excel spreadsheet is fine but must have calculations so I can see and understand exactly how EACH number came to be. The attched spread sheet has the question in it, and is ready for the solution below. and is ready for the solution below. it, spread sheet has the question in attched by step calculations! and excel spreadsheet is fine but must have calculations so I can see and understand exactly how EACH number came to be. The steb

Question:

Using the financial data sheet attached, create a statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method. statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method.

The Question: Using the financial data below, prepare a statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method. Summer Peebles, Inc. Income Statement Year Ending December 31, 2014 Sales $1,000.00 Cost of Goods Sold ($650.00) Depreciation Expense ($100.00) Sales and General Expens ($100.00) Interest Expense ($50.00) Income Tax Expense ($40.00) Net Income $60.00 Summer Inc. Balance Sheets as ofPeebles, December 31, 2013 and 2014 Assets 2013 2014 Cash $50.00 $60.00 Accounts Receivable, Net $500.00 $520.00 Inventory $750.00 $770.00 Current Assets $1,300.00 $1,350.00 Fixed Assets, Net $500.00 $550.00 Total Assets $1,800.00 $1,900.00 Liabilities and Equity Notes Payable to Banks $100.00 $75.00 Accounts Payable $590.00 $615.00 Interest Payable $10.00 $20.00 Current Liabilities $700.00 $710.00 Long-Term Debt $300.00 $350.00 Deferred Income Tax $300.00 $310.00 Capital Stock $400.00 $400.00 The Solution