Please help with this:

Use a spreadsheet to create a Cash Flow Statement for Contest Company, for the year ended December 31, 2004.

Additional Information:

The company had a net income of $60,000 in 2005.

Equipment depreciated $9,000 in 2005.

Equipment costing $21,000 was purchased.

Fully depreciated equipment that cost $3,000 was discarded; its cost and accumulated depreciation were removed from the accounts.

Fifteen hundred (1500) shares of stock were sold and issued at $12 per share.

The company declared $30,000 of cash dividends during the year and paid $21,000.

A) Create the Cash Flow statement

B) Comment on the company's financial performance with respect to major items affecting cash.

Contest Company Comparative Balance Sheet for the years ended December 31, 2004 and 2005 2005 $63,000 48,000 126,000 108,000 (24,000) $321,000 Assets Cash Accounts Receivable Merchandise Inventory Equipment Accumulated Depreciation Total Liabilities and Equity Accounts Payable Taxes Payable Dividends Payable Common Stock Retained Earnings Total 2004 $24,000 54,000 108,000 90,000 (18,000) $258,000 $30,000 12,000 $42,000 6,000 9,000 198,000 66,000 $321,000 180,000 36,000 $258,000