Statement of clash flows excel practice.

? x Prepare a statement of cash flows using the indirect method - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW - Sign In FILE HOME INSERT Calibri olo Paste z B I U . 3- A Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard A1 fc 4 D Insert Delete Format Cells x A B C 14 2 and complete the statement of cash flows. 3 Note: Additional information is included at the bottom of the statement. INNOVATION ELECTRONICS, INC. Balance Sheet At December 31 20X2 2 0X1 8 Assets 9 Current assets: Cash $ 184,420 $ 25,740 Accounts receivable 68,700 83,000 12 Inventory 134,500 128,000 13 Prepaid insurance 2,980 4,560 14 Long-term assets: 15 Investments 211,000 120,000 Land 208,500 255,000 17 Equipment 203,000 203,000 Accumulated depreciation (117,500) (101,500) 16 Total assets $ 895,600 $ 717,800 24 25 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ ... Income Statement Balance Sheet 26,500 $ Cash Flow ... 81,000 I 0 0 + READY Attempt(s) 100% Hint Accumulated depreciation (117,500) (101,500) Cells Total assets | $ 895,600 $ 717,800 $ 26,500 3,400 30,200 81,000 2,300 32,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 255,000 242,000 273,000 307,500 230,000 130,000 Total liabilities and stockholders' equity $ 895,600 $ 717,800 Additional Information for 20X2: 1. Assume that all increases and decreases in long term assets, long term liabilities, and common stock are a result of cash transactions. 2. Land costing $46,500 was sold, resulting in a gain of $6,500. No other long-term assets were sold. 3. Additional long-term investments were purchased. 4. An additional long-term note payable was signed. No repayments on ... Income Statement Balance Sheet Cash Flow ... + X. Sa Prepare a statement of cash flows using the indirect method - Excel ? X - Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW % Calibri B I - 11 - A 3 % - - A - Alignment Number Paste U - D Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font F6 1 Note: To complete the assignment, go to the worksheet tab labeled Cash Flow 2 and complete the statement of cash flows. INNOVATION ELECTRONICS, INC. Income Statement For the Year Ended December 31, 20X2 Net sales $ Gain on sale of land 7 2,430,000 6,500 Total revenues 2,436,500 $ 12 Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense 1,565,000 598,000 16,000 17,000 63,000 Total expenses 2,259,000 21 Net income $ 177,500 ... Income Statement Balance Sheet Cash Flow ... + READY 2 0 0 - + 100% Hint Attempt(s)