Questions: Class Exercise-Excel Follow-up (20 points) Download the Excel file Assignment 1 Excel Problems and show your answer in the sheet Part A Create an Excel Spreadsheet based on the example we discussed in class for Lemonade Inc. to answer the following questions using the following data: Lemonade Inc Balance Sheet Exercise Lemons and Sugar and Cups: $1,800 Cash: $300 Biff owes us $1,000 for his monthly tab The Stand and Equipment and License from the University: $2,000 Vendor Bills: S1,600 Loan from the bank of 1,000 Lemonade Inc. Income Statement Exercise Sales 2018: S12.000 Cost of the cups and demons and sugar and staff to make each cup: $8,300 General & Administrative Expenses $1,700 Interest on $1.000 loan at 10% per year $100 Tax rate: 35% 1. What does the Balance Sheet of Lemonade Inc. look like on 12/31/2018? 2. What does the Income Statement of Lemonade Inc. look like for the year ending 12/31/2018? B. Walmart Earnings Release - Financial Statement (25 points) Please answer in 2 or 3 sentences 1. What does Revenue reflect on Walmart's Condensed Consolidated Statements of Income? (Hint: What does it mean and how is it calculated?) 2. How much has Walmar's Revenue changed from Fiscal Year 2020 to Fiscal Year 20212 (Please show your answer in percentage) 3. What does Cost and Expenses reflect on Walmart's Consolidated Statements of Income? (Hint: What does it mean and how is it calculated? 4. How much has Walmart's Cost and Expenses changed from Fiscal Year 2020 to Fiscal Year 2021? (Please show your answer in percentage) 5. What does Total Equity reflect on Walmart's Consolidated Balance Sheet? (Hint: What does it mean and how is it calculated) 6. How much has Walmart's Total Equity changed from Fiscal Year 2020 to Fiscal Year 2021? (Please show your answer in percentage) C. Accounting Questions (25 points) Describe the Money Measurement Principle in accounting 2. Why is cash flow important? 3. Why are cash flows in accounting measured on an accrual basis instead of on a cash basis? 4. What is the difference between changes in tevenues and expenses and increases or decreases in cash? (Profit us. Cash Flow) 5. What is the difference between Book Value and Market Value of a company? D. Excel Financial Statement Questions (30 points) Download and complete the questions included in the Excel file Assignment 1 Excel Problems All items highlighted in YELLOW should be completed