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please help me Income Statement Exercise: Prepare both consolidated income statement and common-size income statement for JACOB for years 2018 through 2021 based on the
please help me
Income Statement Exercise: Prepare both consolidated income statement and common-size income statement for JACOB for years 2018 through 2021 based on the following scrambled information. Use the format provided on the following page. (All figures in millions except the tax rate) Eamings per share (EPS) = Net Income/Common Shares Outstanding Dividends per share (DPS) = Common Dividends/Common Shares Outstanding Balance Sheet Exercise: Prepare both consolidated balance sheet and common-size balance sheet for Jacob Corporation for years 2018 through 2021 based on the following scrambled information. Use the format provided on the following page. MODULE II: STATEMENT OF CASH FLOWS The statement of cash flows is a firm's financial statement that summarizes its sources and uses of cash over a specified period. This statement reconciles the changes in the firm's cash and marketable securities with cash flows from operating, investing, and financing activities over an accounting period. It is designed to show how the firm's operations have affected its cash position and to help answer the following questions such as: (1) Was the firm generating enough cash to pay off its debt? (2) How was cash used during the year, purchasing new assets or paying dividends? (3) How much external financing did the firm use during the year? An easy guide for determining whether a change in an account from one year to the next is a Source or a Use of cash can be found in the following table. " Contra-asset accounts like accumulated depreciation are treated the same as a liability. Those activities that bring in cash are called sourees of cash and those activities that involve spending cash are called uses of cash. For example, if Accounts Receivable decreased by $40 during the year, this change of $40 would be a source of cash because of collection of $40 accounts receivable; if Accounts Payable decreased by $80 during the year, this change of $80 would be a use of cash because accounts payable was paid off by cash; if gross fixed assets increased by $200, this change of $200 would be a use of eash because of purchases of new fixed assets; if common stock increased by $100. this change of $100 would be a source of cash because of new issuance of common stock. In order to develop a statement of sources and uses of funds and a cash flow statement, both income statement and balance sheet information for the year that you are preparing the cash flow statement as well as the preceding year must be required. Once this information is obtained, you are ready to create the sources and uses of funds statement on a spreadsheet. First, calculate balance sheet changes in assets, liabilities, and the stockholders' equity sections for each account. Then, classify each change as a source or use with the help of the guide provided. Finally, total the sourees column followed by the uses column. The difference between total sources and total uses must be identical to the sum of changes in both cash and marketable securities. Once you have completed the sources \& uses of funds statement, you can start working on the statement of cash flows. First, all cash flows are classified into the following three categories: operating, investing, and financing activities. Cash Flows From Onerating Activities - + Net profits after taxes + Depreciation and amortization of intangible assets + Decrease in current asset items except cash and marketable securities (or - Increase in current asset items except cash and marketable securities) + Increase in all current liability iteme except notes payable (or - Decrease in all current liability items except notes payable) Cash Flows From Investine Activities = - Increase in gross fixed assets (or + Decrease in gross fixed assets) Cash Flows From Financing Activities = + Increase in notes payable (or - Decrease in notes payable) + Increase in long-term debt (or - Decrease in long-term debt) + Increase in stockholders' equity except retained earnings (or - Decrease in stockholders" equity except retained earnings) - Dividends paid Next, tabulate cash flows from all three activities to get the net change in cash flows, which must equal the net change in both cash and marketable securities. Sources and Uses of Funds \& Cash Flow Statement Exercise: By now, you should have the balance sheet and income statement files that were completed and saved in your disk. What you need to do now is combine both files into ONE spreadsheet so that you can prepare the sources and uses of funds statement and then the statement of cash flows. Requirements: 1. Prepare a statement of sources and uses of funds. 2. Prepare a statement of cash flows. The spreadsheet formats are provided for both statements. Please use them to create the statements. Save the file as SOURCES. JACOB CORPORATION SOURCES AND USES OF FUNDS FOR THE YEAR ENDING 2021 Note: All sources, net income, and depreciation should be treated as positive values. All uses, net loss, and dividend paid should be treated as negative values Step by Step Solution
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