please solve this with excel

~ A A Aav Ao Avv A 211 x x AAA AaBCode ABCD Noma No Spacing Save Start your free one month trial of Microsoft 365 or sign in to activate an existing subscription Problem 1 (12 points) In Excel, create an income statement and balance sheet for 2018 for Klein Manufacturing from the following information. I Cash $500 Accounts Receivable 20% of Sales Accounts Payable 20% of Cost of Goods Sold Notes Payable $800 Inventory $2,900 Gross Plant & Equipment $22,000 Long-term Debt $4,000 Common Stock $10,000 Sales $7,500 Cost of Goods Sold 40% of Sales Depreciation Expense $1,200 Other Operating Expenses $1,000 Interest Expense 8% of Long-term Debt Income Taxes 25% of Taxable income Since I did not give you retained earnings, you will need to calculate it. Retained earnings will be the amount necessary to balance your balance sheet. Accumulated depreciation for 2017 was $6,000 a. What is the firm's operating cash flow for 2018? b. If gross plant & equipment for 2017 was $20,000, what is the amount of the net capital spending for 2018? English (United States) 3. 4 5 6 7 8 9 and Save Start your free one month trial of Microsoft 365 or sign in to activate an existing subscription. be the amount necessary to balance your balance sheet. Accumulated depreciation for 2017 was $6,000. a. What is the firm's operating cash flow for 2018? b. If gross plant & equipment for 2017 was $20,000, what is the amount of the net capital spending for 2018? c. If Klein's current assets for 2017 were $4,750 and current liabilities for 2017 were $1,750 what is the change in the net working capital from 2017 to 2018? Problem 2 (8 points) You are planning to purchase a new car at $44.000 and you already saved $4,000 for the down payment and will apply for a car loan to finance the rest of the purchase price. Your bank offers a loan with monthly payments at 4% APR with a term of 36 months. Alternatively, a credit union has a promotional APR of 3% for new customers with a loan term of 48 months. Build amortization tables of both loan alternatives and calculate total interest paid in each loan. Calculate Effective Annual Rate (EAR) for each loan. English (United States) 19 w ditv ACT 3 4 5 6 7. 8. 9