Prepare a statement of financial position and a statement of income for CS Co. as of, and

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Question:

Prepare a statement of financial position and a statement of income for CS Co. as of, and for the year ended, December 31, 2020. You may combine accounts as appropriate (your judgment). Note that data is available for 2019, but you are preparing statements only for the year 2020. 2. Given the information you have, calculate cash flow from operating activities (just operating activities) for the year ended December 31, 2020. You’ll need to make some assumptions since you don’t have all of the information you would need normally. Show your calculation! The answer alone is not sufficient for credit. 3. Given the approaching end of the semester, I am not so concerned about the formatting of the statements, do the best you can to make them as professional looking as you can in a short amount of time. Do this in Excel and use formulas wherever possible (calculating total current assets, for example). When you submit your response, your last name must be included in the file name (“302assignStout.xlsx” for example). HINT: Trial balances are organized, assets are presented together with other assets, liabilities with other liabilities, etc. The location of an account is a clue as to what sort of account it is. (The title helps too, of course.)