Using Excel, complete the following problems in the textbook:

Balance Sheet: Problems 1, 8, and 9 on page 43

Income Statement: Problems 2, 3, 5, and 6 on page 43

Cash Flow: Problems 7, 10, and 11 on page 43

Be sure your Excel spreadsheet is prepared in a professional manner, with answers clearly indicated and all your calculations shown. Full credit will not be given if your process for arriving at the answer is not displayed.

1:)Building a Balance Sheet [LO1] KCCO, Inc., has current assets of $5,300, net fixed assets of $24,900, current liabilities of $4,600, and long-term debt of $10,300. What is the value of the shareholders equity account for this firm? How much is net working capital?

2:)Building an Income Statement [LO1] Billys Exterminators, Inc., has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 35 percent. What is the net income for this firm?

3:)Dividends and Retained Earnings [LO1] Suppose the firm in Problem 2 paid out $95,000 in cash dividends. What is the addition to retained earnings?

5:)Calculating Taxes [LO3] The Dyrdek Co. had $267,000 in 2014 taxable income. Using the rates from Table 2.3 in the chapter, calculate the companys 2014 income taxes.

6:)Tax Rates [LO3] In Problem 5, what is the average tax rate? What is the marginal tax rate?

7:)Calculating OCF [LO4] Ridiculousness, Inc., has sales of $43,800, costs of $22,700, depreciation expense of $2,100, and interest expense of $1,600. If the tax rate is 35 percent, what is the operating cash flow, or OCF?

8:) Calculating Net Capital Spending [LO4] Bowyer Driving Schools 2014 balance sheet showed net fixed assets of $2.7 million, and the 2015 balance sheet showed net fixed assets of $3.5 million. The companys 2015 income statement showed a depreciation expense of $328,000. What was net capital spending for 2015?

9:)Calculating Net Capital Spending [LO4] Bowyer Driving Schools 2014 balance sheet showed net fixed assets of $2.7 million, and the 2015 balance sheet showed net fixed assets of $3.5 million. The companys 2015 income statement showed a depreciation expense of $328,000. What was net capital spending for 2015?

10:)Cash Flow to Creditors [LO4] The 2014 balance sheet of Sugarpovas Tennis Shop, Inc., showed long-term debt of $1.95 million, and the 2015 balance sheet showed long-term debt of $2.28 million. The 2015 income statement showed an interest expense of $235,000. What was the firms cash flow to creditors during 2015?

11:)Cash Flow to Stockholders [LO4] The 2014 balance sheet of Sugarpovas Tennis Shop, Inc., showed $670,000 in the common stock account and $4.1 million in the additional paid-in surplus account. The 2015 balance sheet showed $825,000 and $4.4 million in the same two accounts, respectively. If the company paid out $565,000 in cash dividends during 2015, what was the cash flow to stockholders for the year?