Question: please show work and formulas. thank you!! 7.) Using the information in the Financial Statements, prepare a cash flow statement beginning with Net Income and

please show work and formulas. thank you!!
please show work and formulas. thank you!! 7.) Using the information in
the Financial Statements, prepare a cash flow statement beginning with Net Income

7.) Using the information in the Financial Statements, prepare a cash flow statement beginning with Net Income and identifying all items that affect cash flow to calculate the net change in cash. Financial Statement Item Net Income Source + or Use - Amount Change in Cash Does your answer above agree with the actual change in the firm's cash? Financial Statements for problems 6, 7 and 8 Uuuuuge Baking Co. in thousands Balance Sheet F.Y.E 12/31/18 & 17 Uuuuuge Baking Co. Income Statement Year Ending 12/31/2018 FYE 2018 FYE 2017 Assets: Current Assets Cash Accounts Receivable Inventory Total Current Assets FYE 2018 $2.625 $2,000 $20 $250 $355 $215 $210 $330 $755 Sales Cost of Goods Sold Depreciation Genl. & Admin Exp EBIT $50 $250 $300 $600 Interest Expense Taxable income $60 $295 Fixed Assets Plant and Equipment Less: Accumulated De Net Plant and Equip Total Assets $6251 -$220 Income Tax Exp. $500 -$200 $300 $900 $60 $405 $1160 Net Income $235 Less Dividends Paid Additions to RE $35 $200 Liabilities Current Liabilities Accounts Payable Total Current Liabili $450 $450 $400 $400 Long Term Debt Total Liabilities $65 $515 $80 $480 Owners Equity Common Stock Retained Earnings Total Owners Equit Total Liabilities $185 5460 $645 $1.160 $160 $260 $420 $9.00

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