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Use an Excel spreadsheet to enter the following company's balance sheets and income statements. Use those statements to then create a Cash Flow Statement. In
Use an Excel spreadsheet to enter the following company's balance sheets and income statements. Use those statements to then create a Cash Flow Statement. In order to receive full credit, this should be a working spreadsheet complete with working Excel formulas that have cell references for all calculations. DIRECTIONS: Enter in the data for the Balance Sheets and Income Statement These statements should be complete with Excel formulas for ALL calculations (ex. =A2+B2) in the shaded areas. (10 pts.) 2. Create a Statement of Cash Flows complete with Excel formulas. Every number in the Cash Flow Statement should be an Excel formula referring back to the data from the Balance Sheets and Income Statement. (80 pts.) 3. Proofread all financial statements for correct format (Account titles spelled out correctly and capitalized, rulings, labels for every number, S with zero decimal places). (10 pts.) NOTE: All financial statements can be arranged on the same sheet tab of your file for ease in creating formulas if you wish. However, please keep the sheet organized. Lomar, Inc. Balance Sheet kash Accounts Receivable ASSETS 12/31/16 12/31/17 $2.165 $2,6471 4.832 5,614 INCOME STATEMENT 32132841 Period ended 12/31/17 SIO214 SI1,104 Sales Cost of Goods $35.183 539,456|Depreciation 2760124 85 Operating 12-24 TOTAL CURRENT ASSETS Fixed Assets Accum. Depreciation Net Fixed Assets 56 342 S12540 $14,604 EBIT erest $22.757 $25.705 EBT ITOTAL ASSETS Net Income IABILITIES S1.6451 430 Dividends AddictRE $2.00 $2.648 Lol Dict TOTAL LIABILITIES S150 S 400 103055 EQUITY 10.000 12.500 R $ 10,15 Kom Stock Retained Emines TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 522,757 525, 708
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