Please complete in Excel and include cell formulas. Thank you so much!

Ch 14 in class exercises Problem 14-13 Prepare and Interpret a Statement of Cash Flows; Free Cash Flow [L014-1, L014-2, 1014-3] uuuu ulunun Mary Walker, president of Rusco Company, considers $37,000 to be the minimum cash balance for operating purposes. As can be seen from the following statements, only $32,000 in cash was available at the end of this year. Since the company reported a large net income for the year, and also issued both bonds and common stock, the sharp decline in cash is puzzling to Ms. Walker. Rusco Company Rusco Company Comparative Balance Sheet Income Statement at July 31 For This Year Ended July 31 This Year Last Year Sales S 1,140,000 Assets Cost of goods sold $ 712,500 Current assets Gross margin 427,500 Cash S 32,000 S 53,400 Selling and administrative expenses 304,950 Accounts Receivable $ 243,800 232,100 Net operating income $ 122,550 Inventory $ 265,300 206,200 Nonoperating items: Prepaid expenses $ 18,900 35,400 Gain on sale of invest $ 25,500 Total current assets $ 560,000 $ 527,100 Loss on sale of equipn 5 (9,400) 19,100 Long-term investments $ 141,000 205,000 Income before taxes 103,450 Plant and equipment 894,000 S 767,000 Income taxes 42,410 Less accumulated deprecias 218,500 S 195,100 Net income 61,040 Net plant and equipments 675,500 S 571,900 Total assets $1,376,500 S 1,304,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 248,700 S 178,400 Accrued liabilities $ 9,700 S 18,400 Income taxes payable $ 55,600 S 47,500 Total current liabilities $ 314,000 S 244,300 Bonds Payable $ 251,000 $ 134,000 Total liabilities $ 565,000 $ 378,300 Stockholders' equity: Common stock $ 732,500 S 685,000 Retained earnings $ 79,000 S 240,700 Total stockholders' equity 5 $11,500 $ 925,700 Total liabilities and stockholders' equity $ 1,304,000 $ unului The following additional information is available for this year. a. The company declared and paid a cash dividend. b. Equipment was sold during the year for $57,600. The equipment originally cost $124,000 and had accumulated depreciation of $57,000. ! c. Long-term investments that cost $54,000 were sold during the year for $92,500. d. The company did not retire any bonds payable or repurchase any of its common stock. Required: 1. Using the indirect method, compute the net cash provided by/used in operating activities for this year. 2. Prepare a statement of cash flows for this year. 3. Compute free cash flow for this year