See attachment for details, and please put solutions in Excel.
15-43 Net Income and Retained Earnings (see attachment for numbers)
Walt Disney Company is a well-known entertainment company. The following data are from its 2005 annual report (in millions):
1. Prepare Disney's income statement for the year. The final three lines of the income statement were
labeled as income before taxes, income taxes, and net income.
2. Compute the change in retained earnings, and use that to determine the amount of dividends paid.
3. Comment briefly on the relative size of the cash dividend.
16-49 Preparation of a Statement of Cash Flows (see attachment for numbers)
Wisconsin Bottlers is a microbrewery in Milwaukee. By the end of 20X1, the company's cash balance had dropped to $6,000, despite net income of $239,000 in 20X1. Its transactions affecting income or cash in 20X1 were (in thousands):
1. Prepare a statement of cash flows using the direct method for reporting cash flows from operating activities. Omit supporting schedules.
P16-49 Wisconsin Bottlers is a microbrewery in Milwaukee. Prepare a statement of cash flows using the direct method for reporting cash flows from operating activities.
P15-42 Walt ...
Your response is in Excel, with a separate tab for each problem. Your response includes a transaction analysis in account equation format so you can "see" how each impacts cash and therefore the cash flow statement. Comments about the size of the dividend on the the problem tab.