Innovation Electronics, Inc. has provided you with the year end Income Statement Balance Sheet. The Controller has asked you to prepare the Statement of Cash Flows for the same year ended December 31. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.
I am asking for specific cell formulas and equations! I
DO NOT JUST WANT NUMBERS. CELL FORMULAS FOR EACH IS WHAT IS REQUIRED
Cells Editing A, Alignment Number Conditional Format as Cell Formatting” style=”height:817px;width:971px;” aria-describedby=”fq4″>
Equations for each blank cell, not just numbers please!!! I will
mark this incorrect if equations are not provided for each blank
cell. Thank you!
We were unable to transcribe this imageChapter 12 Excel Simulation i Saved Paste B IU, PR > Cells Editing A, Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font F31 F G 10 points Skipped eBook 2 and complete the statement of cash flows. 3 Note: Additional information is included at the bottom of the statement. INNOVATION ELECTRONICS, INC. Balance Sheet At December 31 20X2 8 Assets 9 Current assets: 10 Cash 25,740 11 Accounts receivable 68,700 83,000 12 Inventory 134,500 128,000 Prepaid insurance 2,980 4,560 14 Long-term assets: Investments 211,000 120,000 16 Land 208,500 255,000 17 Equipment 203,000 203,000 Accumulated depreciation (117,500) (101,500) 184,420 Print References Total assets $ 895,600 $ 717,800 23 Liabilities and Stockholders' Equity 24 Current liabilities: 25 Accounts payable $ 26 Interest payable … Income Statement Balance Sheet $ 26,500 3,400 Cash Flow 81,000 2,300 … + 5 @ D — READY Attempt(s) + 100% Show Me Hint er 12 Excel Simulation i Saved Paste B I U 2 – A Editing Alignment Number Conditional Format as Cell Formatting' Table Styles Styles Cells – Clipboard Font F31 F $ 26,500 3,400 30,200 81,000 2,300 32,500 Ded 25 Accounts payable 26 Interest payable 27 Income tax payable 28 Long-term liabilities: 29 Notes payable 30 Stockholders' equity: Common stock 32] Retained earnings 255,000 242,000 273,000 307,500 230,000 130,000 34 Total liabilities and stockholders' equity $ 895,600 $ 717,800 nces 36 Additional Information for 20X2: 37 1. Assume that all increases and decreases in long term assets, long term liabilities, 38 and common stock are a result of cash transactions. 39 2. Land costing $46,500 was sold, resulting in a gain of $6,500. No other 40 long-term assets were sold. 41 3. Additional long-term investments were purchased. 42 4. An additional long-term note payable was signed. No repayments on 43 notes were made. 44 5. Additional common stock was issued. … Income Statement Balance Sheet Cash Flow … READY @ D — + 100% Show Me Attempt(s) Hint ? X Prepare a statement of cash flows using the indirect method – Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME – Sign In INSERT Calibri 11 AA Paste B I U – A Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 x fx Note: To complete the assignment, go to the worksheet tab labeled Cash Flow E G H A A B C D Note: To complete the assignment, go to the worksheet tab labeled Cash Flow and complete the statement of cash flows. INNOVATION ELECTRONICS, INC. Income Statement For the Year Ended December 31, 20X2 Net sales $ Gain on sale of land 2,430,000 6,500 Total revenues 2,436,500 12 $ Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense 1,565,000 598,000 16,000 17,000 63,000 Total expenses 2,259,000 Net income $ 177,500 … Income Statement Balance Sheet Cash Flow … ?
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