Please show the work on excel here are the requirements

1.Using the Indirect Method prepare Rusco Products statement of cash flows for 2015 in Excel. Show your computations on a separate sheet of paper.

2.Compute free cash flow for 2015

3.Explain the major reasons for the decline in the companys cash balance.

Mary Walker, president of Rusco Products, considers $14,000 to be the minimum cash balance for operating purposes. As can be seen from the following statements, only $8,000 in cash was available at the end of 2015. 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 Products Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 8,000 120,000 140,000 5,000 273,000 $ 21,000 80,000 90,000 9,000 200,000 50,000 70,000 430,000 (60,000) 370,000 300,000 (50,000) 250,000 Total assets $693,000 $520,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Total current liabilities Bonds Payable Deferred income taxes Total liabilities $123,000 8,000 131,000 70,000 20,000 $221,000 $60,000 17,000 77,000 0 12,000 $89,000 80,000 286,000 106,000 472,000 96,000 250,000 85,000 431,000 $693,000 $520,000 Assets Current assets: Cash Accounts Receivable Merchandise Inventory Prepaid expenses Total current assets Long-term investments Plant and equipment: Less accumulated depreciation Net plant and equipment Stockholders' Equity: Preferred stock Common stock Retained earnings Total stockholders' equity Total liabilities & stockholders' equity $ Rusco Products Income Statement For the year ended December 31, 2015 Sales Cost of goods sold Gross profit Selling and administrative expenses Net operating income Other income and (expense) Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net Income $500,000 300,000 200,000 158,000 42,000 $10,000 (2,000) 8,000 50,000 20,000 $30,000 The following additional information is available for the year 2015. a. Dividends totaling $9,000 were declared and paid in cash. b. Equipment was sold during the year for $8,000. The equipment had originally cost $20,000 and had accumulated depreciation of $10,000. c. The decrease in the Preferred Stock account is the result or a conversion of preferred stock into an equal dollar amount of common stock. d. Long-term investments that had cost $20,000 were sold during the year for $30,000. Required: 1. Using the Indirect Method prepare Rusco Products statement of cash flows for 2015 in Excel. Show your computations on a separate sheet of paper. 2. Compute free cash flow for 2015 3. Explain the major reasons for the decline in the company's cash balance