In 2017 Verne company had a beginning cash balance of $2,500. Ending 2017 cash balance should be $120,700. Based on the following information for Verne Company, please create a statement of cash flows using the direct method in Microsoft Excel:

1. Paid a utility bill with $800 cash.
2. Customers paid us a total of $50,000 cash.
3. Issued stocks to raise a total of $105,000 cash.
4. Paid back a note to Wells Fargo for $5,000 cash.
5. Paid $6,000 cash for property taxes due.
6. Purchased a new heavy drilling equipment for $35,000 cash.
7. Sold a semi-truck for $10,000 cash.

*Please use the numbers below to check your statement of cash flows balances:

• Cash Provided by Operating Activities = $43,200
• Cash Used by Investing Activities = ($25,000)
• Cash Provided by Financing Activities = $100,000
• Net Increase of Cash = $118,200
• Beginning Cash Balance = $2,500
• Ending Cash Balance= $120,700