please answer question in full and most important please be clear on your answer, try to use the same format if possible
Following are comparative ba ice sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 37,800 57,600 72,900 $168,300 $ 33,300 47,700 84,600 $165,600 149,400 (21,600) $ 296,100 136,800 (18,980) $283,500 Assets Cash Accoun receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable ! Short-term debt Other accrued liabilit Total current liabil: Long-term debt Total liabilities Stockholders' Equity Common stock, no par valu 25,200 shares issued, re Retained earnings: Beginning balance Net income for mont Dividends abilities $ 33,300 39,600 18,900 $ 91,800 29,700 $121,500 $ 36,900 39,600 2 1,600 $ 98,100 41,400 $139,500 and $ 93,600 $ 86,400 $ 57,600 32,400 (9,000). $ 38,700 26,100 (7,200) Check my RE Beginning balance Net Income for month Dividends Ending balance Total stockholders' equity Total liabilities and stockholders' equity $57. 32.00 (9.000) $ 81,000 $174,600 5296,100 $38.70 26.10 (7.209) 557.500 $144.000 $283.se equired: a. Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment). Because the retained earnings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 28 and January 31 amounts of each balance sheet item b. Prepare a statement of cash flows that explains above changes? Complete this question by entering your answers in the tabs below. Required A Required B Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment). Because the retained earnings section of the balance sheet is, in and of itself, an analysis of the Required A Required B Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment). Because the retained earnings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 28 and January 31 amounts of each balance sheet item. Show less MILLCO INC. Balance Sheets January 31 and February 28, 2020 February 28 January 31 Change $ $ Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment Production equipment Less: Accumulated depreciation 37,800 57,600 72.900 168,300 33,3001 47 700 84.600 165,600 $ $ 149,400 (21.600) 136.800 (18,900) Plant and equipment: Production equipment Less: Accumulated depreciation Total assets 149,400 (21,600) 296,100 136,800 (18,900) 283,500 $ $ $ 3 33,300 $ 36,900 9,60039,600 18,900 21,600 91,800 $ 98,100 29.700 | 41,400 121,500 $ 139,500 $ Liabilities Accounts pr ble Short-term debtS Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock Retained earnings Beginning balance Net income for month Dividends Ending balance Total stockholders equity Total liabilities and stockholders equity $ 93,600 $ 86,400 $ 57 600 32.400 (9.000) 81 000 174.600 $ 38.700 26,100 (7.200) $ 57,600 S 144.000 S283.500 $ $ Prepare a statement of cash flows that explains above changes? (Amounts to be deducted should be indicat sign.) MILLCO INC. Statement of Cash Flows For the Month Ended February 28, 2020 Cash flows from operating activities Add (deduct) items not affecting cash: Cash flows from investing activities: Cash flows from financing activities Statement of Cash Flows he Month Ended February 28, 2020 Cash flows from operating activities: Add (deduct) items not affecting cash: Cash flows from investing activities: Cash flows from financing activities
