Home Insert Draw Page Layout Formulas Data Review View Tell me Calibri (Body) v 11 A A ab Wrap Text v General Paste B I U A v Merge & Center v 9 B6 1 X fx Income Statement. A B C D E F G H Big Bucks Company 2 Prepare a Cash Flow Worksheet (below) using the indirect method. 3 The comparative Balance Sheet numbers are already entered on the worksheet. 4 All parts of the worksheet must be properly formatted. A portion of the grade is for formatting 5 6 7 8 Sales 9 Cost of Goods Sold 10 Gross Profit 11 Operating Expenses 12 Income from Operations 13 Interest Expense 14 Gain on Sale of Equipment 15 Income before Income Taxes 16 Income Tax Expense 17 Net Income 18 19 Additional information: Income Statement Yr ended 12/31/22 $ 338,150 (175,000) 163,150 (120,000) 43,150 (11,400) 2,000 33,750 (6,750) $ 27,000 20 1. Dividends in the amount of $6,000 were declared and paid during the year. 21 2. Depreciation expense and amortization expense are included in operating expenses. 22 3. Equipment with a cost of $30,000 and accumulated depreciation of 21,000 was sold during the year. 4. Equipment costing $54,000 was purchased. A $10,000 short-term note was issued. The balance was paid 23 in cash. 24 5. No unrealized gains and losses have occurred on the investments during the year. 25 **When analyzing the changes in balance sheet accounts, if there is no additional information, always 26 27 Part 1: Complete the Cash Flow Spreadsheet below. 28 Part 2: Respond to the analysis question on the attached tab. 29