Beginning with Chapter 2, each chapter in this text will include a spreadsheet assignment based on the financial information of a fictitious company named Skywalker Enterprises. The assignments start out simple—in this chapter you are not asked to do much more than set up financial statement formats and input some numbers. In succeeding chapters, the spreadsheets will get more complex so that by the end of the course you will have constructed a spreadsheet that allows you to forecast operating cash flows for five years in the future, adjust your forecast depending on the operating parameters that you think are most reasonable, and analyze the impact of a variety of accounting assumptions on the reported numbers.

So, let’s get started with the first spreadsheet assignment.

1. The following numbers are for Skywalker Enterprises for 2011.

                     

Your assignment is to create a spreadsheet containing a balance sheet and an income statement for Skywalker Enterprises.

2. Skywalker is wondering what its balance sheet and income statement would have looked like if the following numbers were changed as indicated.

                                   

Create a second spreadsheet with the numbers changed as indicated. Eliminate any discrepancy by increasing or decreasing Short-Term Loans Payable as much as necessary.