I need help soliving this problem not sure how to complete the yellow parts. Can you please help me fill in thank you
X V fc A B C D E F G H K M N Q Save the cash account for the end (the formula and a check figure are given below). P 12-31 Year 3 Assets Outsourcing Manufacturing ASSETS: Current Assets A/R, Supplies and Prepaid Insurance remain the same. Raw materials inventory is estimated Cash 1,901,749 64.2% 0.0% at $110,000, work-in-process inventory is estimated at $96,250, and finished goods A/R 564,000 19.0% 564,000 85.29 inventory is estimated at $275,000. All prior merchandise inventory balances have been sold Supplies 26,000 0.9% 26,000 3.9% to customers (the balance in the merchandising inventory account, manufacturing column Merchandise Inventory 400,000 E10, is zero). Enter these amounts in the yellow cells. Raw Materials Inventory 0.0%% 0.0% Work-in-Process Inventory 0.0% 0.0% 0.0% PP&E (Selling, General & Administrative ) remain same. Finished Goods Inventory 0.0% Prepaid Insurance 6,300 0.2% 6,300 1.0% 2,898,049 97.8% 596,300 90.1% PP&E (Production Assets) include the following new purchases at the beginning of the year Total Current Assets PP&E (SG&A) Depreciaticotal Deprec in the manufacturing column only: Land, $125,000; Buildings, $750,000 (50 year life); Computers & Network (5 yr. life) 25,000 0.8% 25,000 3.8% 5,000 Furniture & Fixtures, $15,000 (10 year useful life); CAD, Computers and Network, $50,000 Furniture & Fixtures (10 yr. life) 35,000 1.2% 35,000 5.3% 3,500 (5 year useful life); Machinery, $350,000 (15 year useful life); and a Forklift, $75,000 (10 Office Equipment (5 yr. life) 12,000 0.4% 12.000 1.8% 2,400 year useful life). Include the amounts in the manufacturing balance sheet and compute the Vehicles (5 yr. life) 65,000 2.2% 65,000 9.8% 13,000 23,900 annual depreciation amounts in cells H22 through H27 in yellow. Assume straight-line PP&E (Production) depreciation method (Cost/Life), zero residual value. Land 0.0% 0.0% Buildings (50 yr. life) 0.0% 0.0% LIABILITIES & EQUITY: Furniture & Fixtures (10 yr. life) 0.0% 0.0% Accounts payable equals $130,000. Wages payable equals $48,000. Interest payable remains CAD Computers, Network (5 yr. life) 0.0% 0.0% unchanged. Income Taxes Payable is done for you (25% of the amount of income tax Machinery (15 yr. life) 0.0% 0.0% expense on the income statement (quarterly payments). Unearned Revenue, and Current Forklift (10 yr. life) 0.0% 0.0% Portion of Notes Payable account balances are unchanged. A/D Depreciation (3 years total) 71,700) -2.4% (71,700) -10.8% Total PP&E 65,300 2.2% 65,300 9.9% Total Assets 2,963,349 100.0% 661,600 100.0% Notes Payable and Common Stock account balances are unchanged. Liabilities Current Liabilities Accounts Payable 282,341 9.5% 0.0% CASH: Create the following formula for cell E7 = C7 + (Task #1 IS E23 - Task #1 IS C23). Wages Payable 15,000 0.5% 0.0% (E11+E12+E13-C10) - (E22+E23+E24+E25+E26+E27-127) - (C39 - E39) Interest Payable 8,278 0.3% 8,278 1.3% Income Taxes Payable 25,798 0.9% 0.0% Check: Cash should be $1,510,679. Unearned Revenue 60,000 2.0% 60,000 9.1% Current Portion of LT Notes Payable 17,393 0.6% 17,393 2.6% Check: Total Assets = $3,961, 196. Total Current Liabilities 408,809 13.8% 85,671 12.9% Notes Payable 974,540 32.9% 974,540 147.3% Total Liabilities 1,383,349 46.7% ,060,211 160.2% Stockholders' Equity Common Stock 1,000,000 33.7% 1,000,000 151.1% Retained Earnings 580,000 19.6% 270,425 40.9% Total Equity 1,580,000 53.3% 1,270,425 192.0% Total Liabilities & Stockholders' Equity 2,963,349 100.0% 2,330,636 352.3%
