You must not add any rows or columns to the original workbook because it will be graded based on the original cell addresses 5 There is a separate tab to complete the transactions, income statement, statement of retained earnings, and direct cash flow statement. The following will guide the grading of the assignment ry Transactions age Don't alter any of the spreadsheet formulas. Row 18 has the formulas A A - (AL+ASE). It shows the amount by which your transaction is out of balance. So a indicates everything is in balance. upport . Columns AC and AD automatically calculate the ending balances on the income statement and balance sheet for you so don't change those formulas. You will be graded on the beginning balances (1 pts. each) and each part of the transaction (.5 pt each) Transactions are worth 22 total points. Income Statement - you are graded on the subtotals for gross profit (1 pt.), operating profit (2.5 pts.), income before tax (.5 pt.), and net income (.5 pt.). The order does not matter within sections. Statement of Retained Earnings - you are graded on each line item (.5 pt. each). Balance Sheet - you are graded on the subtotals for current assets (2 pts.), noncurrent assets (1 pt.), total assets (5 pt), current liabilities (2 pts.), noncurrent liabilities (.5 pt.), total liabilities (5 pt), total shareholders' equity (1 pt.), and total liabilities and shareholders' equity (5 pt.). The order does not matter within each section. Direct Cash Flow Statement you are graded on each individual element of the statement of cash flow from operations (.5 pt. each element) as well as total cash flow from operations (5 pt.), total cash flow from investing (1 pt.), total cash flow from financing (1.5 pt.), change in cash (5 pt.), beginning cash (.5 pt.) and ending cash (5 pt). 1 Reed & Sons Beg Balance Sheet 1 2 3 4 5 6 7 2 Labels for Direct Cash Flow Statement: Operating (o). 3 Investing (1) or Financing (F) 4 Cash 5 Accounts Receivable 6 inventory 7 Prepaid Rent 8 Equipment 9 Accumulated Depreciation 10 Patents 11 Short Term Investments 12 13 14 15 16 17 Total Assets 18 A-(AL+ASE) 19 20 Accounts Payable 21 Wages Payable 22 Loans Payable 23 Unearned Revenue 24 Interest Payable 25 Taxes Payable 26 Total Liabilities 27 28 29 30 31 Common Stock 32 Retained Earnings 33 Sales 34 COGS 35 Wage Expense 36 Operating Expenses 37 Depreciation Expense 38 Amortization Expense 39 Rent Expense 40 Interest Expense 41 Tax Expense 42 43 44 45 46 Total SH Equity 47 Total Labilities & SH Equity 48 16,510 16,510 16,510 50 51 52 Transactions Income Statement Sit of Retained Earrings Balance Sheet Direct Cash Flow Statement OR 9. - al - H 1 AL 1 Tego 3 13 14 16 24 3 5 AB + it te 12 12 Total - . 29 21 . 19 T 13 14 CE 15 wys 1 Amor 29 40 17 11 SE Paste BIU > a. Av Format B19 fx =B17+B18 A B D E F G H 1 Reed & Sons 2 3 4 Gross Profit 5 6 7 8 9 10 11 12 Operating Profit 13 14 15 16 17 Income Before Tax 18 19 Net Income 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 AutoSave OFF BESU- Data Review View Tell me Formulas Home v 11 A A 2 w v Insert Draw Page Layout X Cut Calibri I. Copy v B I U Format XV fx Paste BM v A E12 B D w F G H 1 Beginning Balance Retained Earnings 2 Net Income 3 -Dividends 4 Ending Balance RE 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 35 36 37 38 39 43 44 45 46 48 AutoSave OFF Home Insert Draw Formulas Data Page Layout V 11 ~ A Paste X Cut Calibri [ Copy * Format BIU x fx =C41+C35 v a. Av 042 A B D 33 34 Noncurrent Liabilities 35 Total Liabilities 36 37 38 39 Retained Earnings 40 41 Total Shareholders Equity 42 Total Liabilities and Shareholders Equity 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 Home Insert Draw Page Layout Formulas Data Review View v A = X Cut Calibri v 11 [B Copy ~ Format B I U 4 x fx SUM(B30:331) Il $ Paste v v A y B32 B D E G 1 Reed & Sons 2 3 Cash Collected from Customers 4 Cash Paid to Employees 5 Cash Paid to Suppliers 6 Cash Paid for Misc Exp 7 8 9 10 11 12 Cash Flow from Operations 13 14 15 16 17 18 19 20 Cash Flow from Investing 21 22 23 24 25 26 27 28 Cash Flow from Financing 29 30 Change in Cash 31 Beginning Cash 32 Ending Cash 33 34 35 36 37 38 39 40 41 42 43 44 46 47 PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. En Module 4 Assignment Record the transactions listed below in the Module 4 Assignment Workbook. Reed & Sons Painters has a balance sheet at December 31, 2016 as follows. Cash Accounts Receivable Inventory Prepaid Rent Current Assets Equipment Accumulated Depreciation Equipment, Net Noncurrent Assets Total Assets Accounts Payable Wages Payable Current Liabilities Loans Payable Noncurrent Liabilities Total Liabilities Common Stock Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $12,000 3.000 5,000 9,000 29.000 27,000 (6.750) 20,250 20.250 49,250 8,240 1,000 9,240 13,000 13,000 22 240 10,500 16.510 27,010 49,250 SCREENS 12 OF 2 Type here to search o