need help thank you

Financial ManagementExcel Assignment #1

1.During 2021, Starzine Corporation had:

Revenue of $623,000

Cost of Goods Sold of $250,000

Operating expenses of $68,000

Interest expense of $4,000

Depreciation Expense of $13,000

During the year Starzine Corporation paid:

50% of net income in dividends

21% in corporate taxes

a. Prepare a multi-step income statement on Sheet 1 of your spreadsheet. Rename Sheet 1 Income Statement. Every calculation needs a working Excel formula*. Include the dividend and additions to Retained Earnings below the income statement.

b. Calculate Starzines Operating Cash Flow beneath the Income Statement.* Be sure to label it.

2.The following data refers to the 2021 year-end account balances for Starzine. However, the Retained Earnings balance is as of 12/31/2020. The accounts are listed in alphabetical order.

$

Accounts Payable	25,000
Accounts Receivable	16,000
Accumulated Depreciation	175,000
Cash	44,000
Common Stock	120,000
Fixed Assets (gross)	390,000
Inventory	135,000
Long Term Debt	111,000
Retained Earnings (2020)	51,992

Salary Payable 11,000

a. Prepare a classified Balance Sheet for Starzine on Sheet 2 of your spreadsheet. Rename Sheet 2 Balance Sheet. Include working Excel formulas for all calculations*.

b. Calculate Starzines Net Working Capital beneath the balance sheet.* Be sure to label it.