PLEASE USE EXCEL AND SHOW EXCEL FORMULAS

5. Axtel Company has the following financial statements. Axtel Company Balance Sheet For the period ended 12/31/X1 ($000) ASSETS 12/31/x0 12/31/X1 Cash $ 3,514 $ 2,875 Accounts receivable 6,742 5,583 Inventory 2,573 3,220 CURRENT ASSETS $ 12,829 $ 11,678 Fixed assets Gross $22,478 $24,360 Accumulated depreciation (12,147) (13,313) Net $ 10,331 $ 11,047 TOTAL ASSETS $ 23,160 $ 22,725 LIABILITIES Accounts payable $ 1,556 $ 1,702 Accruals 268 408 CURRENT LIABILITIES $ 1,824 $ 2,110 Long-term debt $ 7,112 $ 6,002 Equity 14,224 14,613 TOTAL CAPITAL $ 21,336 $ 20,615 TOTAL LIABILITIES AND EQUITY $ 23,160 $ 22,725 Axtel Company Income Statement For the period ended 12/31/X1 ($000) Sales $36,227 COGS 19,925 Gross margin $ 16,302 Expense 10,868 EBIT $ 5,434 Interest 713 EBT $ 4,721 1,605 Net income $ 3,116 Tax In addition, Axtel retired stock for $1,000,000 and paid a dividend of $1,727,000. Depreciation for the year was $1,166,000. Construct a statement of cash flows for Axtel for 20X1. (Hint: Retir ing stock means buying it back from shareholders. Assume the purchase was made at book value, and treat it like a negative sale of stock.)