Please use excel and include formula instructions. Thanks!

Statement of Cash Flows Excel Problem (50 points): Use the following comparative Balance Sheets, Income Statement, and additional information to prepare the 2019 Statement of Cash Flows for Cameron Corporation. Use the indirect method to prepare the Operating Activities section. SHOW YOUR WORK for all Investing and Financing Activities. You must show your work in t-accounts and/or journal entries. USE EXCEL formulas throughout and link all Statement of Cash flow numbers to the financial statements or supporting journal entries/T Accounts. Additional information for 2019 transactions: a. All inventory is purchased on account, and the Accounts Payable account is used exclusively for inventory purchases. b. A portion of the company land was sold for $18 million in cash. This land was originally purchased in a previous year for $10 million. c. Land was purchased for $30 million cash for use as a parking lot. d. Equipment was sold in 2019 that had an Accumulated Depreciation balance of $7 million on the date of sale. The equipment originally cost $14 million and was sold at a loss for cash. (HINT: You must determine the amount of cash received.) e. In 2019, new equipment was acquired by issuing a 12%, five-year, $20 million note payable to the seller. f. During 2019, $56 million of short-term (current) notes payable were paid in cash and $43 million of cash was borrowed in the form of short-term debt (current notes payable). g The increase in the common stock account is attributed the issuance of 2 million shares for cash when the market price was $13 per share. h. Cash dividends were declared and paid to shareholders. (HINT: You must determine the amount of cash dividends paid.) F. During 2019, $56 million of short-term (current) notes payable were paid in cash and $43 million of cash was borrowed in the form of short-term debt (current notes payable). g The increase in the common stock account is attributed the issuance of 2 million shares for cash when the market price was $13 per share. = h. Cash dividends were declared and paid to shareholders. (HINT: You must determine the amount of cash dividends paid.) Cameron Corporation Balance Sheets December 31, 2019 and 2018 ($ in millions) Cameron Corporation Statement of Cash Flors for the year ended December 31, 2019 ($ in millions) 2019 2018 Change 17 $41 32 50 3 $126 ASSETS Current Assets: Cash Accounts receivable Inventory Prepaid insurance Total Current Assets Property, Plant, & Equipment: Land Equipment Less: Acoumulated depreciation Total Property, Plant, & Equipment Total Assets $24 28 47 6 $105 WA (3) 80 81 (16) $145 $271 - 60 75 (20) $115 $220 20 6 4 $26 8 2 34 $17 3 8 47 9 5 (6) (13) LIABILITIES Current Liabilities: Accounts payable Salaries payable Income tax payable Notes payable, current Long-term Liabilities: Notes payable, long-term EQUITY Common stock, $10 par, 50 million shares authorized, 12 million shares issued and Paid-in capital in excess of par-common stock Retained Earnings - Total Liabilities and Equity 20 0 20 $120 $100 26 35 $271 20 25 $220 20 6 10 Cameron Corporation Income Statement for the year ended December 31, 2019 ($ in millions) 2019 Sales revenue $125 Cost of goods sold (84) Gross profit 41 Operating expenses: Salaries expense (13) Depreciation expense (3) Insurance expense (7) Income from operations 18 Other income and expenses: Interest expense (2) Gain on sale of land 8 Loss on sale of equipment (2) Income before taxes 22 - Income tax expense (4) Net income $18 Sheet1 +