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    Create all four financial statements

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    Creating financial statements

    Accounts Payable 20,000
    Account Receivable 60,000
    Capital Stock 252,000
    Cash ?
    Cash Payments for operating activities 657,000
    Cash Receipts from operating activities 690,000
    Cost of Sales 435,000
    Dividends 30,000
    Income Tax expense 53,000
    Income Tax payable 8,000
    Interest expense 2,000
    Inventories 115,000
    Notes Payable (due in 2017) 50,000
    Property, plant, and equipment 265,000
    Retained earnings ?
    Sales 750,000
    Selling and administrative expense 80,000

    Create an income statement, retained earnings statement, balance sheet, and statement of cash flows.

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    Solution Summary

    Your tutorial shows the four financial statements in Excel. Click on cells to see calculations. I assumed no beginning retained earnings (no mention was made) and plugged backwards for beginning cash.