Spreadsheet for Statement of Cash Flows Balance 7/1/18 Balance 12/31/18 Panel A Balance Sheet 0 Cash Accounts Receivable Inventory Office Equipment Truck Accumulated Depreciation-Plant Assets Total Assets Transaction Analysis Debit Credit 95,700 $ 12.000 4,400 6,000 5,000 6,000 123,100 6000 $ 95,700 12,000 4,400 6,000 5,000 (6,000) 117,100 0 $ $ o 5,500 10,000 5,500 10,000 Accounts Payable Note Payable-Short Term Note Payable - Long Term Total Liabilities 0 15500 15,500 100,000 Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 0 0 0 $ 100,000 (1,000) 114,500 1,000 1,000 $ $ 115,500 $ 2,600 6,000 -12000 4400 5,500 10,000 Panel B-Statement of Cash Flows Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation Expense - Plant Assets Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Increase in Notes Payable-Short-term Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Cash Paid for Acquisition of Plant Assets Net Cash Used for Investing Activities Cash Flows from Financing Activities: Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Provided by Financing Activities Net Increase (Decrease) in Cash: Total 7,700 (11,000) (11,000) 100,000 -1000 99,000 95,700 Prepare the James Island Clothing Company statement of cash flows for the year months ended December 31, 2018. Use the indirect method. Format cash flows from operating activities by the indirect method. Leave cells blank if not used. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Note: Some of the input cells marked in blue may not require entries. THE JAMES ISLAND CLOTHING COMPANY Statement of Cash Flows Year Ended December 31, 2018 HINTS 1. For cell references, use an equal sign (-) and the appropriate cells from the Panel B-Statement of Cash Flows in ENTERANSWERS1 worksheet. 2. In Cash Flows from Operating Activities through Cash Flows from Financing Activities sections, enter the amounts in the order of Panel B - Statement of Cash Flows in ENTERANSWERS1 worksheet. 3. Use a minus sign in front of the formula to enter appropriate amounts as negative values. 4. Use appropriate cells in ENTERANSWERS2 worksheet to calculate totals and subtotals. 5. Refer to the appropriate cell in Spreadsheet for Statement of Cash Flows in ENTERANSWERS1 worksheet for the cash balance on July 1, 2018