The James Island Clothing Company began operations on July 1, 2018. The adjusted trial balance as of December 31, 2018 is provided as well as transaction data for 2018.

Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis columns. Note: Some of the input cells marked in blue may not require entries.

NOTE: Always use cell references and formulas where appropriate

Prepare the James Island Clothing Company statement of cash flows for the year ended December 31, 2018. Use the indirect method. Note: Some of the input cells marked in blue may not require entries.

Requirements:

1.) Complete the worksheet for the James Island Clothing Company, filling in the Transaction Analysis columns.

2.) Prepare the James Island Clothing Company statement of cash flows for the year ended December 31, 2018 :: Use the indirect method.

NOTE: Some of the input cells marked in blue may not require entries.

3.) Use cell references in formulas (Please outline formulas, if any)

4.) Format cells with comma format, dollar format, and underlines as appropriate

Here is a partially complete Statement of Cash Flows. I started to lose confidence as I went further in, which is why it is partially complete.

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.

JAMES ISLAND CLOTHING COMPANY Adjusted Trial Balance 12/31/18 Account Title $ Cash Accounts Receivable Inventory Office Equipment Truck Accumulated Depreciation-Plant Assets Accounts Payable Note Payable-Short Term Note Payable-Long Term Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Rent Expense Advertising Expense Depreciation Expense Balance Debit Credit 95,700 12,000 4,400 26,000 18,000 6,000 5,500 10,000 33,000 100,000 1,000 15,000 3,600 2,000 800 6,000 169,500 $ $ 169,500 $ Transaction data for 2018 Cash paid for purchase of office equipment Cash paid for purchase of truck Acquisition of plant assets with a long-term notes payable Cash payment of dividends Cash receipt from issuance of common stock 6,000 5,000 33,000 1,000 100,000 Spreadsheet for Statement of Cash Flows Balance 7/1/18 Balance 12/31/18 Panel A-Balance Sheet $ Cash Accounts Receivable Inventory Office Equipment Truck Accumulated Depreciation-Plant Assets Total Assets Transaction Analysis Debit Credit 95,700 12,000 4,400 26,000 18,000 6,000 95,700 12,000 4,400 26,000 18,000 (6,000) 150,100 $ $ Accounts Payable Note Payable -Short Term Note Payable - Long Term Total Liabilities 5,500 10,000 33,000 5,500 10,000 33,000 48,500 100,000 Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 1,000 $ 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