Question: Please answer in excel can not understand in some else handwriting. Thank you CP 14-8 Assume the following income statement and balance sheet information: $175

Please answer in excel can not understand in some else handwriting.

Please answer in excel can not understand in some else handwriting. Thank you CP 14-8 Assume the following income statement and balance sheet information: $175 Service revenue (all cash) Operating expenses Salaries (all cash) Net income 85 $90 2020 2019 Current assets Cash Short-term invest. $1,600 200 $1,800 Liabilities Borrowings 1.000 Stockholders' equity Common stock Retained earnings 300 550 500 750 $1,350 800 $1,800 Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non- current. No gain or loss occurred when common stock was repurchased. Required: 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity. 3. Calculate cash flow from financing activities. 4. (Appendix) Prepare a cash flow table. Show that cash effects net to a $450 outflow. CHAPTER FOURTEEN/ The Statement of Cash Flows First US Edition

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