NUMBER TWO

FloorCo, Inc. has provided data from its previous year of operations.The Controller has asked you to prepare the Operating Activities Section of the Statement of Cash Flows.Use the information included in the Excel Simulation and the Excel functions described below to complete the task.

• Cell Reference:Allows you to refer to data from another cell in the worksheet.From the Excel Simulation below, if in a blank cell, "=C6" was entered, the formula would output the result from cell C6, or 75,000 in this example.
• Basic Math functions:Allows you to use the basic math symbols to perform mathematical functions.You can use the following keys:+ (plus sign to add), - (minus sign to subtract), * (asterisk sign to multiply), and / (forward slash to divide).From the Excel Simulation below, if in a blank cell "=D13+D14" was entered, the formula would add the values from those cells and output the result, or 35,200 in this example.If using the other math symbols the result would output an appropriate answer for its function.
• SUM function:Allows you to refer to multiple cells and adds all the values.You can add individual cell references or ranges to utilize this function.From the Excel Simulation below, if in a blank cell "=SUM(D7,D8,D9)" was entered, the formula would output the result of adding those three separate cells, or 402,000 in this example.Similarly, if in a blank cell "=SUM(D7:D9)" was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 402,000 in this example.

[The problem is in an embedded Excel worksheet. Here are the images. The yellow portion needs to be completed. Thank you!]

x - Prepare the Operating Activities Section of a Statement of Cash Flows using the Indirect ... ? 23 X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 -A A Paste BI U- 2 A - Alignment Number Conditional Format as Cell Cells Formatting > Table - Styles Editing Clipboard Font G Styles G2 X fix A B D E F G H The following information is for FloorCo, Inc. for the year just ended: 2 4 Beginning of End of year year Ln Current assets: LD Cash 75,000 S 90,000 Accounts receivable 158,000 140,000 Inventory 285,000 246,000 Prepaid expenses 11,000 16,0 10 11 Current liabilities 12 Accounts payable 284,000 302,000 13 Accrued liabiities 9,500 11,200 14 Income taxes payable 27,000 24,000 15 16 Net income 94,500 17 18 Accumulated depreciation 19 total credits 45,000 20 21 Floor Company did not record any gains or losses during the year.- Prepare the Operating Activities Section of a Statement of Cash Flows using the Indirect ... ? X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In do Calibri 11 % EG A A" Paste BIU- Alignment Number Conditional Format as Cell Cells Table - Styles Editing Formatting Clipboard Font Styles G2 . . . X fee A B C D E F G H 22 23 Prepare a schedule of net cash provided by operating activities. 24 25 FloorCo, Inc. 26 Operating Activities Section of the Statement of Cash Flows 27 28 Net income 29 Adjustments to convert net income to a cash basis: 30 Depreciation 31 Increase in accounts receivable 32 Increase in inventory 33 Decrease in prepaid expenses 34 Decrease in accounts payable 35 Decrease in accrued liabilities 36 Increase in income taxes payable 37 Net cash provided by operating activities 38 39 40 41