How do you create a balance sheet or income statement for Case 2-53 on page 2-45...

How do you create a balance sheet or income statement for Case 2-53 on page 2-45 of Intermediate Accounting?

Expert Solution

ekkarill92 answered 1 year ago

How do I create a statement of cash flows from a balance sheet and income statement?

Create your own Income Statement, Retained Earnings Statement and Balance Sheet. Do not create a Statement...

Create your own Income Statement, Retained Earnings Statement and Balance Sheet. Do not create a Statement of Cash Flows. Make up the name of the company the accounts and the numbers. You will need to plug the cash (or other account) amount to make the Balance Sheet Balance. Assets = Liabilities + Owner's Equity.

Create a Fictitious balance sheet and income statement.

How to create a income and balance sheet

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Use the 2015 income statement and balance sheet (next page) to construct a statement of cash flows for Laguna Surf Board Company. Determine the amount of financing they will need to raise in the capital markets. Remember to calculate subtotals for operating activities, investing activities and financing activities. Laguna Surf Board 2015 Income Statement $M Sales 700 Less COGS 400 Gross Profit 300 Depreciation 40 Operating Expenses 105 EBIT (Operating Profit) 155 Interest 25 EBT (Pretax Income) 130 Taxes 30...

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