The Statement of Cash Flows Using Excel to prepare the statement of cash flows, indirect method The James Island Clothing Company began operations on July 1, 2018. 5 The adjusted trial balance as of December 31, 2018, appears below, along with transaction data for 2018. 16 13 $ 17 JAMES ISLAND CLOTHING COMPANY 8 Adjusted Trial Balance 9 12/31/18 10 11 Account Title 12 Cash 14 Accounts Receivable 15 Inventory 16 Office Equipment 17 Truck 18 Accumulated Depreciation --Plant Assets 19 Accounts Payable 20 Note Payable--Short Term Instructions ENTERANSWERS1 ENTERANSWERS Ready Accessibility Investigate Balance Debit Credit 95,700 12,000 4,400 26,000 18,000 6,000 5,500 10,000 $ D E 33,000 100,000 1,000 Note Payable ---Long Term Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Rent Expense Advertising Expense Depreciation Expense 15,000 3,600 2,000 800 6,000 169,500 $ $ 169,500 $ Transaction data for 2018 Cash paid for purchase of office equipment 6,000 Cash paid for purchase of truck 5,000 Acquisition of plant assets with a long-term notes payable 33,000 Cash payment of dividends 1,000 Cash receipt from issuance of common stock 100,000 lue shaded areas on the ENTER ANSWERS tab for inputs. se cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab, you will be 1 Prepare the James Island Clothing Company statement of cash flows for the year months ended December 31, 2018. Use the indirect method. 2 Format cash flows from operating activities by the indirect method. Leave cells blank if not used. 3 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong) 4 Note: Some of the input cells marked in blue may not require entries. 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 HINTS For cell references, use an equal sign (=) and the appropriate cells from the Panel B - Statement of Cash Flows in ENTERANSWERS1 worksheet In Cash Flows from Operating Activities through Cash Flows from Financing Activities sections, enter the amounts in the order of Panel B - Statement of Cash Flows in ENTERANSWERS1 worksheet Use a minus sign in front of the formula to enter appropriate amounts as negative values. H. Use appropriate cells in ENTERANSWERS2 worksheet to calculate totals and subtotals. 5. Refer to the appropriate cell in Spreadsheet for Statement of Cash Flows in ENTERANSWERS1 worksheet for the cash balance on July 1, 2018