[CH2:4-7] Please help with this Practice Exam. Thanks.

GIVEN:

1. Grinnell Industries is a company with the following financial statement balances: current assets of $56,700, net fixed assets of $295,050, current liabilities of $43,050, and long-term debt of $111,300. What is the value of the shareholders' equity account for this firm? How much is net working capital?
2. Kilroy Inc., has sales of $783,600, costs of $379,200, depreciation expense of $62,400, interest expense of $30,000, and a tax rate of 25 percent. What is the net income for this firm?
3. Kilroy Inc, featured in problem 5, distributed 60% of the firm's net income as dividends in the same year as the information listed above. What is the addition to retained earnings for that year?
4. Use the following information for InTech Inc., (assume the tax rate is 21 percent):

REQUEST: (Prof provided an answer key but wants us to show the complete solution using Excel functions)

Please provide me step-by-step Excel directions for:

1. Balance Sheet, and
2. Income Statement
3. for the 2 years of 2020 and 2021 based on the following info:

	2020	2021
Sales	21,514	24,047
Depreciation	3,089	3,229
Cost of goods sold	7,397	8,750
Interest	1,443	1,723
Cash	11,279	12,021
Accounts receivable	14,934	17,529
Short-term notes payable	2,176	2,133
Long-term debt	37,778	45,798
Net fixed assets	94,601	100,893
Accounts payable	8,150	7,717
Inventory	26,551	28,421
Dividends	2,573	3,008