02 Oct instructions in details
38140For Week 2 you will need to complete the Week 2 Assignment.
You are to read the chapter case at the end of Chapter 2 (page 50) of your text. The case deals with cash flows and financial statements at Sunset Boards, Inc. For Part 1 you are to complete the income statement balance sheet, and the operating cash flow for 2015 and 2016. The Week 2 Assignment Excel template to use is located under “Learning Resources” in the Week 2 thread.
All of the gray answer cells must be filled in with numbers. Some of the gray cells will require using simple math in Excel correctly to compute the correct answer. All of the yellow answer cells must be filled in with the correct item name. Page 54 in the text show what items needed to be included when building an income statement and balance sheet. Page 34 shows the formula to use to calculate the operating cash flow.
Also, be sure to submit it as an Excel file. Do not copy it on a Word file because I need to see the formulas in some of the cells.
It is also very important to use Excel formulas in cells where you are conducting math using multiple cells to prove the answers and prevent errors. Also having the correct formula in cells when needed will spontaneously change cells below it to guarantee the correct answer if those cells have the correct formula as well. Without formula in those cells, they will remain “dead” and not spontaneously change when you change data in other cells. For your balance sheet, you want to calculate the asset side (left hand side) and then total liabilities from the right-hand side. Then place in the owner’s equity number that balances both sides. So, place in the owner’s equity number last after you have calculated the assets on the left-hand side and total liabilities on the right-hand side. Also, be sure to show your work for your operating cash flow calculations for 2015 and 2016.
Overall, for the income statement you will need to calculate EBIT, EBT, Taxes, Net Income, Dividends, and Addition to Retained Earnings. For the balance sheet you will need to calculate Current Assets, Current Liabilities, Total Assets, and Total Liabilities & Equity. Also, be sure to show your work for your operating cash flow calculations for 2015 and 2016.
For Part 2 you just need to answer the two questions. The combined word minimum of answering the two questions needs to be 250 words minimum as noted in the instructions.
Finally, you can submit multiple files in SafeAssign. Even though SafeAssign does not check Excel, please submit both your Word file with the essay answers and your Excel file with the calculations from your Week 2 Assignment in SafeAssign. To do this, after you click on the “Browse My Computer” button to attach the files, then hold down the “Ctrl” button and select both files from your hard drive. Then submit them.
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