You have been provided with a 2022 income statement and 2021 and 2022 balance sheets for Wenwen, Inc. Please note that Wenwen paid common stock dividends in 2022.

Your assignment is to:

• Prepare a 2022 cash flow statement for Wenwen, Inc. in proper GAAP format.
• Prepare a free cash flow calculation for 2022.

Deliverable: Provide the requested information in an excel file. Add explanations and comments to the spreadsheet, if needed.

A B C D F G H Cash Flow Homework 2 3 Calculate GAAP Cash Flow 4 5 Wenwen,Inc.IncomeStatement2022172,00043,500128,50018,00045,00010,50073,50055,00020,00035,0008,75026,250 6 8 Revenue 9 Cost of Revenue 10 Gross Profit 11 12 R\&D 13 Sales \& Marketing 14 G\&A 15 Total Operating Expenses 17 EBIT 18 Interest Expense EBT Taxes Net Income 22 23 24 25 26 27 Cash 28 Accounts Receivable 29 Inventory 30 Prepaid Expenses 31 Total Current Assets 32 33 Gross Plant and Equipment 34 Accumulated Depreciation 35 Net Plant and Equipment 36 37 Total Assets 38 39 40 \begin{tabular}{rrr} \multicolumn{2}{c}{ Wenwen, Inc. } \\ 2021 & \multicolumn{2}{c}{2022} \\ \hline 9,100 & 15,400 \\ 9,300 & 11,900 \\ 5,200 & 3,600 \\ 2,400 & 7,000 \\ \hline 26,000 & 37,900 \end{tabular} \begin{tabular}{rr} 33,300 & 46,800 \\ 6,100 & 13,500 \\ \hline 27,200 & 33,300 \end{tabular} \begin{tabular}{rr} \hline 53,200 & 71,200 \\ \hline \end{tabular} Accounts Payable Accrued Wages Short-Term Debt Unearned Revenue (Deferred Revenue) Total Current Liabilities Long-Term Debt Other Long-Term Operating Liabilities Total Liabilities Preferred Stock Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities \& Equity \begin{tabular}{rr} \multicolumn{2}{c}{ Wenwen, Inc. } \\ \multicolumn{2}{c}{ Balance Sheet } \\ \hline 7,100 & 6,100 \\ 3,400 & 6,600 \\ 6,600 & 9,200 \\ 6,500 & 7,200 \\ \hline 23,600 & 29,100 \\ & \\ 13,500 & 10,100 \\ 3,600 & 4,200 \\ \hline 40,700 & 43,400 \\ & \\ 2,000 & 6,000 \\ 5,000 & 5,400 \\ 5,500 & 16,400 \\ \hline 12,500 & 27,800 \\ \hline 53,200 & 71,200 \\ \hline & \end{tabular}