Statement of cash flow question

125% ? TL fxv Formula ul Chart T Text View Zoom Table Shape Media Comment Share Tips Format Sort & Filter + Excel Project 2 TEMPLATE O A B E F H 1 1 5 6 A) Using the information below and the template on the next tab, prepare a statement of cash flows (indirect method), B) Also using the template on the next tals, compare free cash flow. 7 8 8 9 Grading 10 11 In order to get full points for this project: Cells in orange on the template should be a VALUE Cells in green on the template should be a FORMULA Cells in yellow on the template should be TEXT. 12 13 14 15 16 The points available for each row requiring input are noted in Column G on the template in the next tab. 17 18 19 We Really Love Cash, Co. Comparative Balance Sheet December 31 We Really Love Cash, Co. Income Statement For the Year ended December 31, 2120 20 21 22 2020 2019 $242,1100 175, 1100 23 24 25 26 Assets Cash Accounts Receivalle Inventory Fquipment Accumulated depreciation--equipment Total Assets $39,0X10 30,000 27,000 601,000 (29.000) $127,000 $20,0X10 14.IXIO 20,0X10 78,000 (24.000) $108,000 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income 24,1100 43,00 3.KH 41,100 8,000 $32,000 27 28 29 30 31 32 33 34 Liabilitics and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Liabilities and Stockholders' Equity $24,000 7,1X10 27,0x10 18,7X10 51,1X10 $15,000 8,1X10 33,000 14,0X10 38,0X10 0 35 36 $127,000 $108,000 37 125% TL T Text View Zoom Formula Table Chart Shape Media Comment Share Tips Format Sort & Filter + Excel Project 2 TEMPLATE O A B E F 1 16 The points available for each row requiring input are noted in Column G on the template in the next tab. 16 17 18 We Really Love Cash, Co. Comparative Balance Sheet December 31 We Really Love Cash, Co. Income Statutent For the Year ended December 31, 2020 19 20 21 2020 2019 22 23 24 25 Assets Cash Accounts Receivable Inventory Equipment Accumulated depreciation equipment Total Assets $39,000 30,000 27,000 60,000 (29,000) $127,000 $20,000 14,000 20,000 78,000 (24,000) $108,000 Sales revenue Cost of yods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242,000 175,000 67,000 24,000 43,000 3,000 40.000 8,000 $32,000 28 27 28 29 30 31 32 33 33 34 35 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Liabilities and Stockholders' Equity $24,000 7,000 27,000 18,000 $15,000 8,000 33,000 14,000 38,000 $108,000 0 51,000 36 $127,000 37 38 39 vo 40 41 Additional data: 1. Dividends declared and paid were $19,000. 2. During the year equipment was sold for $6,500 cash. This equipment cost $18,000 originally and had a book value of $6,500 at the time of sale. 3. All depreciation expense, $16,500, is in the operating expenses. 4. All sales and purchases are on account. 42 43 44 45 46