Please complete in excel format like provided above thank you!

Required: Create a cash flow statement for Contest Company, for the year ended December 31, 2015, on the spreadsheet provided. Comment on the company's financial performance with respect to major items affecting cash. Additional Information: From the Income Statement, there is a net income of $51 000 in 2015. Equipment was amortized for $9 000 in 2015. New equipment costing $21 000 was purchased. An old, fully amortized piece of equipment that cost $3 000 was discarded; its cost and accumulated amortization were removed from the accounts. 1 500 shares of stock were sold and issued at $12 per share. The company declared $30 000 of cash dividends during the year and paid $21 000 of dividends. C G H I 1 2 3 4 5 6 Assets 2015 2014 7 Cash $63,000 $24,000 8 Accounts Receivable 48,000 54,000 9 Merchandise Inventory 126,000 108,000 10 Equipment 108,000 90,000 (24,000) (18,000) 11 Accumulated Amortization 12 Total H $321,000 $258,000 13 Liabilities and Equity 14 Accounts Payable $42,000 $30,000 15 Taxes Payable 6,000 12,000 16 Dividends Payable 9,000 198,000 180,000 17 Common Stock 18 Retained Eamings 19 Total 66,000 36,000 $321,000 $258,000 20 21 22 Additional Information: 23 From the Income Statement, there is a net income of $51,000 in 2015. 24 Equipment was amortized for $9,000 in 2015. 25 Equipment costing $21,000 was purchased. 26 Fully amortized equipment that cost $3,000 was discarded; its cost and accumulated amortization were removed from the accounts. 27 1 500 shares of stock were sold and issued at $12 per share. 28 The company declared $30 000 of cash dividends during the year and paid $21 000 of dividends. 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Cash Flow Statement + B Contest Company Comparative Balance Sheet December 31, 2014 and 2015 U7A7 Assignment 1 Ready Balance Sheet D E F AB 1 2 3 4 5 Operating Activities 6 Net Income 7 Add: 8 9 10 11 12 Less: 13 14 15 Net Cash from Operations 16 Financing Activities 17 18 19 Investing Activities 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Contest Company Statement of Cash Flows For the year ended December 31, 2015 #2 - Comment on cash flow Ready Balance Sheet Cash Flow Statement + D E F