Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The excel file below contains a balance sheet and income statement. Your assignment is to create a statement of cashflows in excel based on the
The excel file below contains a balance sheet and income statement. Your assignment is to create a statement of cashflows in excel based on the B/S and I/S. Insert as many rows as needed. Also, every item you insert in the statement of cashflows must be either a cell reference or a formula.
Balance Sheet 2020 2019 12,000 Cash $ 20,000 $ ST Investments $ 31,500 $ A/R $ 60,000 $ 40,000 50,800 90,000 Inventory $ 95,600 $ $ 15,600 $ 26,000 Prepaid Expenses Land $ 200,000 $ 260,000 650,000 $ 650,000 Buildigs $ (75,000) $ (57,000) 150,000 346,000 $ Accumulated Depreciation - $ Equipment $ Accumulated Depreciation - $ Patents (41,000) $ $ 68,000 $ 72,000 A/P $ 81,000 $ 86,900 21,000 Tax Pay $ 26,800 $ Salaries payable $ - 8,000 $ 25,000 $ ST-N/P $ 25,000 LT-N/P $ 50,000 $ 75,000 Bonds Payable $ 600,000 $ 600,000 Discount on B/P $ (36,015) $ (40,865) $ 110,000 $ 100,000 Common Stock APIC-CS RE 248,600 $ 216,800 265,315 $ 201,965 $ $ Income Statement Sales Revenue COGS GM Operating Expenses Selling Expenses $ 160,800 63,000 Administrative Expenses $ 116,100 Depreciation/Amortizatior $ Total Operating Expenses Income From Operations Other Revenues/Expenses Gain on Sale of Land $ Loss on Sale of Short-term $ Dividend Revenue Interest Expense 21,000 (8,000) $ 4,100 (95,350) $ $ Income Before Taxes $ Income Tax Expense $ Net Income $ Dividends to Common Stockholders $ To Retained Earnings. $ $ $ $ $ $ 1,560,000 976,000 584,000 339,900 244,100 (78,250) 165,850 62.500 103,350 (40,000) 63,350 Statement of Cashflows CF From op CF provided (used) by Op Activities CF From Investing CF provided (used) by Investing Activities CF from Fin CF provided (Used) by Financing Activities Change in Cash Beg Cash End CashStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started