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Winter Park Web Design Statement of Cash Flows For the Year 2016 Cash Flows from Operations Net Income (1 mark) Depreciation Expense 5,295 Change in Accounts Receivable (2.256) Change in Inventories

Winter Park Web Design Statement of Cash Flows For the Year 2016 Cash Flows from Operations Net Income (1 mark) Depreciation Expense 5,295 Change in Accounts Receivable (2.256) Change in Inventories (1,586) Change in Accounts Payable 2,025 Total Cash Flows from Operations Cash Flows from Investing Change in fixed assets (30,255) Total Cash Flows from Investing Cash Flows from Financing Change in Notes Payable (1.500) Change in Long-Term Debt 2,250 Change in Common Stock Change in Paid-In Capital Cash Dividends (1 mark) Total Cash Flows from Financing Net Change in Cash Balance Check answer against Balance Sheet Beginning Cash From Balance Sheet (1 mark) Ending Cash From Balance Sheet (1 mark) Net Change in Cash Balance (30,255) (1 mark) (1 mark) (Imark) (8 marks)
(b) Balance Sheet Cash Accounts receivable Inventories Total Current Assets Gross fixed assets Accumulated depreciation Net Fixed Assets Total assets Winter Park Web Design Balance Sheets For the Years 2015 and 2016 2016 $ 15,225 18,756 (1 mark) (1 mark) 43,530 10,845 32,685 79.577 2015 $ 11,250 (1 mark) 11.325 (1 mark) (2 marks) (2 marks) 7.725 46,800 Accounts payable Notes payable Total Current Liabilities Long-term debt Total Liabilities Common stock Additional paid in capital Retained earnings Total Equity Total Liabilities & Equity 12,302 (1 mark) (1 mark) 10,673 25,974 7,500 750 (2 marks) (2 marks) (1 mark) (1 mark) 4,500 14.777 (1 mark) 23,199 (Imark) 750 15.351 (2 marks) (1 mark) Notes: Shares Outstanding 7500 7,500 (21 marks)
Question 1 (48 marks) Please answer the following questions using spreadsheet. Please use separate worksheet for each financial statement and name it accordingly. Complete the following financial statement: (a) Income Statement, (b) Balance Sheet (c) Statement of Cash Flow. (a) Income Statement Winter Park Web Design Income Statements For the Years 2015 and 2016 2016 Sales $ 280,419 Cost of Goods Sold 154.229 Gross Profit (1 mark) Depreciation Expense (1 mark) Selling & Admin Expense 825 Net Operating Income (1 mark) Interest Expense 1,020 Earnings Before Taxes (1 mark) Taxes (1 mark) Net Income (2 marks) 2015 $ 225,000 123.750 (1 mark) 4,646 720 (1 mark) 810 (1 mark) (1 mark) (2 marks) Notes: Tax Rate Shares Outstanding Earnings per Share Dividends per Share Addition to RE per Share 37.0% (1 mark) (1 mark) $6.00 (1 mark) 35.0% (1 mark) (1 mark) $5.00 (1 mark) (19 marks)

Apr 14 2021 View more View Less

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