You will complete Problem 16-4B from the file above. You will prepare a Statement of Cash Flows in good form and professional in appearance using Excel. Formulas and cell referencing are required.

Deliverable: Two Excel Files, one with the professional Statement of Cash Flows in good form, the second file will be the same Statement of Cash Flows with "show formulas" turned on.

Problen 16-4B Indirect: Statement of cash flows P1 P2 P3 Satu Company, a merchandiser, recently completed its 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and income statement follow. SATU COMPANY Comparative Balance Sheets December 31, 2013 and 2012 2013 2012 SATU COMPANY Income Statement For Year Ended December 31, 2013 $ 58,750 20,222 165,667 107,750 (46,700) $305,689 $ 28,400 25,860 140,320 77,500 (31,000) $241,080 $750,800 269,200 481,600 Sales Cost of goods sold Gross profit.. Operating expenses Depreciation expense Other expense Income before taxes Income taxes expense Net income Assets Cash Accounts receivable Merchandise inventory Equipment Accum. depreciation - Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity $ 20,372 2,100 40,000 $157,530 6.100 25,000 $ 15,700 173,933 189,633 291,967 89,200 $202,767 68.000 175,217 $ 305,689 20,000 32,450 $241,080 Additional Information on Year 2013 Transactions a. Purchased equipment for $30,250 cash. b. Issued 3,000 shares of common stock for $21 cash per share. c. Declared and paid $60,000 of cash dividends