You will complete Problem 16-4B from the file above. You will prepare a Statement of Cash Flows in good form and professional in appearance using Excel. Formulas and cell referencing are required.

Problem 16-48 Indirect: Statement of cash flows P1 P2 P3 Satu Company, a merchandiser, recently completed its 2013 operations. For the year, (1) all sales are crcdit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory (5) Other Expenses are cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and income statement follow. SATU COMPANY Comparative Balance Sheets December 31, 2013 and 2012 2013 2012 SATU COMPANY Inconie Statenient For Year Ended December 31, 2013 $ 58,750 20,222 165,667 107,750 (46,700) $305,689 $28.400 2 5,860 140,320 77,500 (31,000) $241,080 $750,000 269,200 481,600 Assets Cash... Accounts receivable.. Merchandise Inventory Equipment. Accum.depreclation Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable .. Common stock, $5 par value ... Pald-In capital in excess of par, common stock .. Retained earnings ....... Total liabilities and equity ..... Sales . . . . Cost of goods sold Gross profit. ... Operating expenses Depreciation expense... Other expenses... Income before taxes ......... Income taxes expense... Net Income .... $157,530 20,372 2,100 40,000 6,100 25,000 173,933 189,633 291.967 89.200 68,000 175,217 $305,689 20,000 32,450 $241,080 $202,767 Additional Information on Year 2013 Transactions a. Purchased equipment for $30,250 cash. b. Issued 3,000 shares of common stock for $21 cash per share. c. Declared and paid $60,000 of cash dividends. Check Cash from operating acies, $57600 Required Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirect method