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i need help setting up the statement of cash flows 1. Use the information in the provided Income Statement and Balance Sheet to create the
i need help setting up the statement of cash flows
1. Use the information in the provided Income Statement and Balance Sheet to create the 2023 Statement of Cash Flows for H\&K Inc. This should be created on the appropriate Tab of the Excel Workbook Template provided on Canvas. 2. Formulas: a. Use Excel to setup the Statement of Cash Flows by linking the values from the Income Statement and the Balance Sheet. b. Use Excel formulas to calculate all totals and sub-totals. 3. Complete the ratio calculations for 2023 on the appropriate tab using the Income Statement and Balance Sheet. All ratios should be linked back to your financial statements. 4. Save your Excel workbook Project3-your last name. (For example:Project3-Smith.xis). 5. Upload the completed assignment to Canvas using the link provided. GRADING RUBRIC: FORMATTING (15\%) Statement of Cash Flow should be formatted and easy to read/follow. This includes: - Properly underlined subtotals and grand totals. - Consistency in formatting (i.e. if decimals are used, they should be consistent. Aredollar signs used consistently?) ACCURACY/COMPLETENESS (25\%) The Statement of cash flows and ratios were completed by linking the cells back to the financial statements. STATEMENT OF CASH FLOWS (30\%) All sub-totals and totals are accurately calculated (using Excel formulas). All sections of the statement are included and correctly subtotaled. The Statement matches the change in cash from the Balance Sheet. RATIOS (30\%) All ratios are accurately calculated (using Excel formulas). H \& K INC. Income Statement For the Years Ended December 31, 2023 and 2022 \$ in millions 20232022 Revenue Net sales Operating Expenses Selling, general and administrative Depreciation Amortization Operating income \begin{tabular}{|r|r|} \hline 7,850 & 7,182 \\ \hline 1,822 & 1,010 \\ \hline 45 & 45 \\ \hline 12,957 & 14,644 \\ \hline \end{tabular} Interest expense, net Gain on sale of property \& equip Income before income taxes \begin{tabular}{|rrr} \hline 276 & 235 \\ \hline 800 & 350 \\ \hline 13,481 & 14,759 \end{tabular} Provision for income taxes Net income H 8K INC. Balance Sheet December 31,2023 and 2022 The compory pidobihividends of 1350n2023 Thewe ueienopurchates or saler olitiangble acsete The oompany made paymervir of 1250 enin debt obtgaloni, and took an addignsi 1450 in debe during the yeat 1. Use the information in the provided Income Statement and Balance Sheet to create the 2023 Statement of Cash Flows for H\&K Inc. This should be created on the appropriate Tab of the Excel Workbook Template provided on Canvas. 2. Formulas: a. Use Excel to setup the Statement of Cash Flows by linking the values from the Income Statement and the Balance Sheet. b. Use Excel formulas to calculate all totals and sub-totals. 3. Complete the ratio calculations for 2023 on the appropriate tab using the Income Statement and Balance Sheet. All ratios should be linked back to your financial statements. 4. Save your Excel workbook Project3-your last name. (For example:Project3-Smith.xis). 5. Upload the completed assignment to Canvas using the link provided. GRADING RUBRIC: FORMATTING (15\%) Statement of Cash Flow should be formatted and easy to read/follow. This includes: - Properly underlined subtotals and grand totals. - Consistency in formatting (i.e. if decimals are used, they should be consistent. Aredollar signs used consistently?) ACCURACY/COMPLETENESS (25\%) The Statement of cash flows and ratios were completed by linking the cells back to the financial statements. STATEMENT OF CASH FLOWS (30\%) All sub-totals and totals are accurately calculated (using Excel formulas). All sections of the statement are included and correctly subtotaled. The Statement matches the change in cash from the Balance Sheet. RATIOS (30\%) All ratios are accurately calculated (using Excel formulas). H \& K INC. Income Statement For the Years Ended December 31, 2023 and 2022 \$ in millions 20232022 Revenue Net sales Operating Expenses Selling, general and administrative Depreciation Amortization Operating income \begin{tabular}{|r|r|} \hline 7,850 & 7,182 \\ \hline 1,822 & 1,010 \\ \hline 45 & 45 \\ \hline 12,957 & 14,644 \\ \hline \end{tabular} Interest expense, net Gain on sale of property \& equip Income before income taxes \begin{tabular}{|rrr} \hline 276 & 235 \\ \hline 800 & 350 \\ \hline 13,481 & 14,759 \end{tabular} Provision for income taxes Net income H 8K INC. Balance Sheet December 31,2023 and 2022 The compory pidobihividends of 1350n2023 Thewe ueienopurchates or saler olitiangble acsete The oompany made paymervir of 1250 enin debt obtgaloni, and took an addignsi 1450 in debe during the yeat Step by Step Solution
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