Statement of Cash Flows Excel Assignment

Task: Using the comparative balance sheets in tab A and the additional information provided in tab D, complete the construction of the income statement and statement of cash flows.

Recommended Instructions:

1. Carefully examine the financial statements and information provided in tabs A, B, C, and D.

2. Record journal entries or T-accounts for the transactions listed in tab "D. Additional Transactions Info." You may enter the entries in the space provided under each item.

3. Utilize the empty columns in the comparative balance sheet to enter the effects of each transaction as an adjustment to the balance sheet during the year 2016. You should use links to bring the information from tab D to the columns in tab A.NOTE: Carefully consider which signs the numbers should be (aka positive or negative) when entering them to adjust each account. You may have to switch the signs when you link the numbers.

Notice there are Edit Checks to ensure completeness across the bottom and far right side of the spreadsheet in Tab A. If you have made the correct adjustments, the Edit Checks will zero out.

After completing all the relevant columns in the Balance Sheet, the numbers in the column "Total 12/31/16 after adjustments" should equal the numbers in the "December 31, 2016" column.

4. Complete the income statement in tab B.

5. By referencing the income statement and balance sheet, you should now be able to complete the statement of cash flows. Once again, use links and be careful with your signs. For the operating section, you should complete both the indirect and direct methods.

6. Document your work thoroughly as demonstrated in class. This includes tickmarks referencing transactions or calculations within the document. Not only should the sources of the numbers in your Cash Flow Statement and Income Statement be referenced, but any relevant transaction or calculation details should be explained.

7. To complete the assignment, answer the additional analysis short answer questions in tab E.

Need: I need help constructing the 2016 statement of income and the statement of cash flows. I've already completed the balance sheet in tab A and the journal entries.

Thank you