Please complete 16-7B

FILE INSERT PAGE LAYOUT FORMULAS DATA REVIEW HOME % Cut Calibri HA VIEW NITRO PRO Wrap Text General Merge & Center - La Copy Normal 2 Conditional Format as Calculation Formatting Table Normal check Cell Paste BIU- 2. Format Painter Clipboard N32 1 Complete Problems 16-18, 16-4B, and 16-7B on the proper tab. 2 \You can complete the problems in Excel and submit the Excel spreadsheet in Canvas or you can print out the Excel spreadsheet and complete by hand. You will 3 then need to scan in your completed worksheets and submit those in Canvas. 4 Each problem is worth 8 points. 6 Problem 16-1B 7. This problem focuses on preparing the cash flow from operation section of the statement of cash flows. 8. Remember, you start with net income and then make the following adjustments: 9 Addback non-cash expenses 10 Adjust for gains and losses 11 Adjust for changes in current assets and current liabilties. 112 The adjustments are backwards. An increase in asset is subtracted and a decrease is added. An increase in liabily is added and a decrease is subtracted. 14 Problem 16-4B 15 This is a cash flow spreadsheet. For this one, I have the beginning balances in the spreadsheet. I also have 16 the descriptions for the bottom part of the spreadsheet provided. 17Remember, when doing this, debits always have to equal credits. When doing the adjustments, do them 18 one adjustment at a time, making sure that the debits equal the credits. 20 Problem 16-7B 21 This is another cash flow spreadsheet. For this one, I provided the beginning balance but not the 22 descriptions. I would recommend using problem 48 as a guide as you work on 23. this one. Chapter 16 5. HOME DATA REVIEW VIEW FORMULAS FILE NITRO PRO INSERT PAGE LAYOUT Cut Number 12 - Wrap Test Anal $ -% 00 Merge & Center - e Copy Format Painter Conditional Format as ca Formatting Table Paste B TUA Number Clipboard D29 1 Chapter 16 Problem Name 16-7B UA SATU CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Dec. 31. Prior Analysis of Changes Year Debit Credit Dec. 31, Current Year 8 Balance sheet--debits 9 Cash 10 11 12 Accounts receivable Inventory Equipment 28,400 25,860 140,320 77,500 272,080 14 Balance sheet-credits 15 Accum. depreciation Equip. 16 Accounts payable 17 Income taxes payable 18 Common stock, $5 par value 19 PIC Excess of Par - Common 20 Retained earnings 31,000 157.530 6,100 25,000 20.000 32,450 272,080 23 Statement of cash flows zs Operating activities NNNN zB Investing activities 32 Financing activities Instructions Pr 16-18 Pr 10-48 Pr16-78 READY share. ash dividends. Declared and paid $60,000 of cash divid Equity Common stock, $5 par value.... Pald-in capital in excess of pht.cominon stock...... Roted earrings.... Yots tables and equity... 68,000 175.217 $305,689 20,000 32,450 $241,080 othod for the current year. Requiran Prepare a complete statement of cash flows using the indirect method for the Refer to the information reported about Satu Company in Problem 16-6B. Problem 16-7B Indirect: Cash flows spreadsheet P4 ibit 16A.1 under the indire Required Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A1 und method. Identify the debits and credits in the Analysis of Changes columns with lettere the the following list of transactions and events. a. Net income was $202,767. f. Depreciation expense was $15,700. b. Accounts receivable decreased. g. Purchased equipment for $30,250 cash. c. Inventory increased. h. Issued 3,000 shares at $21 cash per share. d. Accounts payable decreased. i. Declared and paid $60,000 of cash dividends. e. Income taxes payable decreased. Check Analysis of Changes column totals, $543,860 Refer to Satu Company's financial statements and related information in Problem 16-6B. Problem 16-8BB Direct: Statement of cash flows P5 Check Cash provided by financing activities, $3,000 Required Prepare a complete statement of cash flows using the direct method for the current year. Refer to Gazelle Corporation's financial statements and fell 16-3B. This se ments Problem 16-5B Direct: Statement of cash flows P5 Required Prepare a complete statement of cash flows using the direct method. Discle financing activities in a note. d. Disclose any noncash in be SP 16 busind prepa Satu Company's current year income statement, comparative balance sheet follow. For the year, (1) all sales are credit sales. (2) all credits to Account rocents from customers, (3) all purchases of inventory are on credit, (4) all de tot cash payments for inventory. (5) Other Expenses are cash expenses, and Ti t le reflects the accrual and cash payment of taxes. e sheets, and additional info ounts Receivable reflege ses, and (6) any change in logo to Accounts Pays SATU COMPANY Income Statement For Current Year Ended December 31 Current star Prior TOP $750,00 2692 48155 $ 58,750 20,222 78,972 165,667 107,750 (46,700) $305,689 S 25,400 25,860 54,260 140,320 77.500 (31,000) $241,080 Sales ........ Cost of goods sold ........ Gross profit... Operating expenses Depreciation expense..... Other expenses ... Income before taxes.. Income taxes expense.... Net income... $ 15,700 173,933 189,638 291967 8923 $202,767 Accounts receivable. Total current assets... Inventory .......... Equipment Accum. depreciation--Equipment. Total assets. Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock. $5 par value. Paid-in capital in excess of par, common stock.......... Retained earnings ..... Total liabilities and equity $ 20,372 2,100 22,472 $157,530 6,100 163,630 40,000 25,000 68,000 175,217 $305,689 20,000 32.450 $241,080 Additional Information on Current-Year Transactions a. Purchased equipment for $30,250 cash. b. Issued 3,000 shares of common stock for $21 cash per share. c. Declared and paid $60,000 of cash dividends. Check Cash from operating activities, 557,600 Required Prepare a complete statement of cash flows using the indirect method for the current year. Problem 16-7B4 Indirect: Cash flows spreadsheet Required Refer to the information reported about Satu Company in