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**PLEASE PREPARE A STATEMENT OF CASH FLOWS IN EXCEL WITH FORMULAS. AS WELL AS A CLASSIFIED BALANCE SHEET AS IT WOULD APPEAR AT DECEMBER 31,
**PLEASE PREPARE A STATEMENT OF CASH FLOWS IN EXCEL WITH FORMULAS. AS WELL AS A CLASSIFIED BALANCE SHEET AS IT WOULD APPEAR AT DECEMBER 31, 2021.***
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Skysong Inc. had the following balance sheet at December 31, 2020. SKYSONG INC. BALANCE SHEET DECEMBER 31, 2020 Cash $ 21,290 Accounts payable $ 31,290 Accounts receivable 22,490 Bonds payable 42,290 Investments 32,000 Common stock 101,290 Plant assets (net) 82,290 Retained earnings 24,490 Land 41,290 $199,360 $199,360 During 2021, the following occurred. 1. Skysong liquidated its available-for-sale investment portfolio at a loss of $6,290. 2. A tract of land was purchased for $39,290. 3. An additional $30,000 in common stock was issued at par. 4. Dividends totaling $11,290 were declared and paid to stockholders. 5. Net income for 2021 was $36,290, including $13,290 in depreciation expense. 6. Land was purchased through the issuance of $31,290 in additional bonds. 7. At December 31, 2021, Cash was $71,490, Accounts Receivable was $43,290, and Accounts Payable was $41,290. DELIVERABLES: In Excel prepare a statement of cash flows for the year 2021 for Skysong. Formulas in Excel must be used. In the same Excel workbook on a separate sheet prepare a classified balance sheet as it would appear at December 31, 2021. Post your file to the link labeled Project #2 - Cash Flow (located in the Project's section)Step by Step Solution
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