Question 1: Using the cash account given on the next page, prepare the Statement of Cash Flow for Snyder and Thompson. The fiscal year starts on January 1, 2018 and ends December 31, 2018. The statement should look clean and well-organized, and clearly depict numerical values. Both one-column and two-column statements are acceptable. You can use one of the following two methods to create the statements: a. MS Excel: Make sure to use proper formatting. Numerical values should be middle- justified. Print out the final document and attach to the submission. b. Columnar Paper: Using the columnar paper provided at the end, manually create your statements. Ensure the statements are clean and readable, Snyder and Thompson Farms Ledger Cash Date Description Debit $ Credit $ 550 4,500 670 1,250 6,930 4,500 1/1/18 1/13/18 1/16/18 1/22/18 1/27/18 2/18/18 2/20/18 3/1/18 3/5/18 3/19/18 4/11/18 4/15/18 5/1/18 5/9/18 5/13/18 6/6/18 6/22/18 7/25/18 8/19/18 8/20/18 9/9/18 9/12/18 9,000 350 3.500 Balance $ 5,790 5,240 9,740 9,070 7,820 14,750 19.250 10,250 9.900 6,400 10.220 2,720 860 Beginning Balance (carried forward) Payment for herbicide Sale of 3 breeding livestock to Marksbury Farms Feed purchase Obligations on leased asset (milking eq.) Insurance claim received (filed 12/29/17) Sale of damaged equipment Purchase of Farm Vehicle Interest on Note (Ag Lenders Union) Principle on Note (Ag Lenders Union) Sale of heifers Wages to farm hands Blanket insurance lump-sum (Farmer's Insurance) Sale of breeding livestock to M. Lee Equipment for artificial insemination (s#33594) Payment for equipment repair Purchase of feed Payroll taxes (withholding and employer-side) Feed purchase Checking account overdraft fees Income tax payment to IRS (late fees incl.) Owner's contribution from non-farm income Loan from Farmer's First Credit Union 3.820 7,500 1,860 3,900 3.750 240 4,760 1,010 770 650 120 -650 770 290 -940 -985 45 795 2.780 5.000 -1.780 1,000 6,000 10/1/18 45 -985 795 2,780 5,000 3,700 8/20/18 Checking account overdraft fees 9/9/18 Income tax payment to IRS (late fees incl.) 9/12/18 Owner's contribution from non-farm income 10/1/18 Loan from Farmer's First Credit Union 10/5/18 Milk sales to Double Dairy Co. 11/7/18 Bank charges 11/15/18 Withdrawal (for personal use) 11/22/18 Wages to farm employees 11/22/18 Owner's contribution from savings account 12/1/18 Obligations on leased asset (farm vehicle) 12/2/18 Sale of breeding livestock to Cinta Ltd. 12/20/18 Owner's withdrawals 100 1.200 3.300 -1,780 1,000 6,000 9,700 9,600 8.400 5.100 13,100 12,450 16,000 14,000 8.000 650 3,550 2.000