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Need help on question two 1. Using the data presented below for Blue Sky Inc.: a) Create Blue Sky's income statement and balance sheet using
Need help on question two
1. Using the data presented below for Blue Sky Inc.: a) Create Blue Sky's income statement and balance sheet using formulas wherever possible. Each statement should be on a separate worksheet. b) On another worksheet, create a statement of cash flows for 2017. All formulas should be linked directly to the source on previous worksheets. 2. Using the data from the previous problem: a) Create a common-size income statement and balance sheet for 2017 and 2016. These statements should be created on a separate worksheet with all formulas linked directly to the income statement and balance sheet. b) Using the common-size income statement for 2017, create a forecasted income statement for 2018 assuming that each item is expected to remain in the same proportion as in 2017. The forecasted sale: for 2018 are $8,500,000Step by Step Solution
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