Use only the exam spreadsheet to complete your final.

• Copy/pasting and other forms of cheating can be easily detected. Therefore, donotuse any person or other source, as this will be considered cheating.
• Thank you for being honest and doing your own work.

Complete the P&L Statement, Balance Sheet, and Statement of Cash Flows based on the provided assumptions.

• Use formulas for every value in each cell of all the financial statements.

Answer the five questions below the financial statements.

• Unless otherwise stated, youmustchange the amounts in the assumption table back to the original values after answering each question.
• You will take a quiz based on these five questions in theW14 Final Exam.

BUS180_Spreadsheet_W14_Final - Excel X Stolole lylol d5 92 49 204148? LE P 123 ax 264 590 59 e CA EPo 089 X V fx B C D E F G H I J K L M N O P Q 1 W14 Exam: Final with Depreciation 2 3 Instructions 4 Based on assumptions below, make a projected P&L, balance sheet and statement of cash flows for 3 months. 5 After completing the projected financial statements, answer the questions below the balance sheet 6 Rick's Razors Assumptions 8 January razor sales in units 2,000 Days Receivable based on current month's sales 8 9 Sale price of razor $ 4.00 Days Inventory based on next month's COGS 14 10 January Razor blade sales (packs of 5) in units 2,000 Days Payable based on current months general expenses (Mkt and Ot 15 11 Sale price of razor blade $ 2.00 Equipment Life in months 60 12 Monthly unit sales growth rate for razors and Blades 1% 13 Razor cost of goods sold per unit $ 2.15 14 Razor blade cost of goods sold per unit S 0.89 15 Marketing expense as a % of current month's sales 15% 16 Other expenses $ 1,500 17 18 Activity: 19 1 - In December Rick plans to open a bank account with his personal investment of $7,000 cash. 20 2 - In January Rick plans to open his doors for business. 21 3 - In January Rick plans to borrow $5,000 and buy $5,000 of equipment. 22 4. In March, Rick plans to buy $2,000 of additional equipment with cash. 23 24 Jan Feb Mar Apr 25 Units sold - razors Note: Don't Worry about rounding units sold of razors or blades 26 Units sold - razor blades 27 28 P&L Statement 29 Razor sales 30 Razor blade sales 31 Total Sales 32 Razor cost of goods sold 33 Razor blade cost of aoods sold Final Template + 100%BUS180_Spreadsheet_W14_Final - Excel X Stolole lylol d5 92 49 20 4148? LE P 123 ax 264 590 59 e CA 9101 78 EPo 089 X V A B C D E F G H I J K L M N O P Q 31 Total Sales 32 Razor cost of goods sold 33 Razor blade cost of goods sold 34 Total Cost of Goods Sold Note: you will need to determine April's COGS so you can calculate March's Inventory 35 Gross Profit 36 37 Expenses 38 Marketing Expenses 39 Other expenses 40 Depreciation 117 Check figure: Apr depreciation is 117 41 Total Expenses 42 Net Income Check figures: Before changes in the assumptions, Net Income for Jan. is $2537 and March is $2586 43 44 Statement of Cash Flows 45 Operating Activities 46 Net Income 47 Changes in Cur. Assets and Liabilitys 48 Change in Accounts Receivable 49 Change in Inventory 50 Change in Accounts Payable 51 Non-cash expenses 52 Depreciation 53 Cash fllow from Operating Activities 54 55 Investing Activities 56 Change in Equipment 57 Cash flow from Investing Activities 58 59 Financing Activities 60 Change in Notes Payable 61 Change in Capital 62 Cash flow from Financing Activities 63 Final Template + 100%BUS180_Spreadsheet_W14_Final - Excel X Stolole lylol d5 92 49 204148? LE P 123 ax 264 590 59 2 CA EPo 089 X V B C D E F G H I J K M P Q 61 Change in Capital 62 Cash flow from Financing Activities 63 64 Net increase in cash 65 Cash--beginning of period 66 Cash--end of period 67 68 Balance Sheet 69 Assets 70 Cash 7000 71 Accounts Receivable 72 Inventory 73 Equipment 74 Less: Accumulated Depreciation 75 Total Assets 76 77 Liabilities 78 Accounts Payable 79 Notes Payable 80 Total Liabilities 81 82 Owner's Equity 83 Capital Invested 7000 84 Owner's Withdrawal (none for Jan-Mar) 85 Retained Earnings 86 Total Owner's Equity 87 Total Liabilities and Owner's Equity Check Figure: Before changing the assumptions, total Liabilities and OE for Jan. is $16187 and Mar. is $21369 88 89 Based on the projected financial statements above, answer the following. 90 IMPORTANT: After answering each question, return the assumption amount to the original value before answering the next question. 91 Answers 2% $ 4.25 1 -Which change results in more cash at the end of March..increase monthly unit sales growth rate for all months from 1% to 2% or increase 92 the sale price of razor for all months from $4.00 to $4.25? (use these cells to calculate Cash Balan Final Template + " -- 100%BUS180_Spreadsheet_W14_Final - Excel X Stolole lylol d5 92 49 204148? LE P 123 ax CA EPo 089 X V fx B C D E F G H 1 J K L M N O P Q 82 Owner's Equity 83 Capital Invested 7000 84 Owner's Withdrawal (none for Jan-Mar) 85 Retained Earnings 86 Total Owner's Equity 87 Total Liabilities and Owner's Equity Check Figure: Before changing the assumptions, total Liabilities and OE for Jan. is $16187 and Mar. is $21369 88 89 Based on the projected financial statements above, answer the following. 90 IMPORTANT: After answering each question, return the assumption amount to the original value before answering the next question. 91 Answers 2% $ 4.25 1 -Which change results in more cash at the end of March..increase monthly unit sales growth rate for all months from 1% to 2% or increase 92 the sale price of razor for all months from $4.00 to $4.25? (use these cells to calculate Cash Balan 93 94 2 -What would the net income or loss in February be if the razor blade cost of goods sold per unit for all month's is increased from $.89 to $1.00? 95 96 3 - What would the cash balance at the end of February be if Days Receivable were increased from 8 to 12 days for all months? 97 98 4 - What would the cash balance at the end of January be if razor and razor blade initial unit sales each increase from 2,000 to 4,000? 99 00 5 - What would the cash amount be at the end of March be if Daysinv for all months was increased from 14 to 20 days? 101 102 6 - In words, give the equation for calculating breakeven number of units. 103 104 105 106 107 108 109 110 111 Final Template + 100%BUS180_Spreadsheet_W14_Final - Excel X Klat lololle lylol d5 92 49 204148? LE P 123 ax 264 590 59 e 089 X V B C D E F G H J K L M N O P Q R S T U V VA 82 83 7000 84 85 86 87 Check Figure: Before changing the assumptions, total Liabilities and OE for Jan. is $16187 and Mar. is $21369 88 89 above, answer the following. 90 tion, return the assumption amount to the original value before answering the next question. 91 Answers 2% $ 4.25 d of March..increase monthly unit sales growth rate for all months from 1% to 2% or increase 92 to $4.25? (use these cells to calculate Cash Balance) 93 94 ary be if the razor blade cost of goods sold per unit for all month's is increased from $.89 to $1.00? 95 96 February be if Days Receivable were increased from 8 to 12 days for all months? 97 98 January be if razor and razor blade initial unit sales each increase from 2,000 to 4,000? 99 100d of March be if Daysinv for all months was increased from 14 to 20 days? 101 102 reakeven number of units. 103 104 105 106 107 108 109 110 111 Final Template + 100%