I need help with the cash flow statment please help.

ACG 3113 Spring 2017 Practice Set #4 The following are comparative balance sheets and an income statement for the Cupcake Company. Cupcake Company Balance Sheets As of December 31 2016 2015 Assets: Cash $25,000 $100,000 Accounts receivable 163,500 125,000 Inventory 183,000 220,000 Property, Plant and Equipment 70,000 50,000 Less: Accumulated Depreciation (40,000) (35,000) Long-term investments 20,000 65,000 Valuation Allowance - LT Investments 4,000 2,000 Totals $425,500 $527,000 Liabilities and shareholders' equity: Accounts payable - Merchandise Operating expenses payable Notes Payable Bonds payable Common stock Treasury Stock, Common Retained earnings Accumulated Other Comprehensive Income Totals $ 60,000 29,500 10,000 60,000 150,000 (10,000) 122,000 4,000 $425,500 $110,000 25,000 -0110,000 125,000 -0155,000 2,000 $527,000 Cupcake Company Income Statement For the Year Ended December 31, 2016 Sales Cost of Goods sold Gross Profit Operating expenses (excluding depreciation expense) Depreciation expense Income from operations Other expenses: Loss on sale of long-term investment Net Income Other comprehensive Income - Unrealized holding gains Comprehensive Income $571,000 372,500 $198,500 182,000 5,000 $ 11,500 (4,500) 7,000 2,000 $ 9,000 Additional Information 2016: Cash dividends were declared and paid in 2016. No stock dividends were declared or issued in 2016 No Property, Plant or Equipment was sold in 2016 During 2016, Property, Plant and Equipment of $10,000 was acquired by signing a $10,000 Notes Payable on the day of acquisition. All other acquisitions were paid with cash The following were purchased using cash: Long-term investments and Treasury Stock Any change in Bonds Payable relates to repayment of principle (face) amounts. All sales of Common Stock (No par value) were for cash Prepare the Statement of Cash Flows of Cupcake Company for the year ended December 31, 2016. A. Prepare a Statement of Cash Flows (direct method) using the \"Spreadsheet Approach\" we demonstrated in class. B. Using your spreadsheet from A above prepare a Statement of Cash Flows, in good form, for the year ended December 31, 2016 (A reconciliation schedule is not required.) C. Submit both A and B electronically in Canvas using separate tabs for each. When you have finished your excel spreadsheet, save your spreadsheet using the following filename construction: Last name/First Letter of first name/ps5 (e.g. LeiningerMps5.xsxl). Submit this file along with the proper certification (see syllabus) in Canvas