Rivier University FIN FIN 5010 Financial Statements Project You are required to prepare the following financial statements using Excel. USE EXCEL EFFICIENTLY AND EFFECTIVELY TO...

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Question Answered step-by-step Financial Statements Project You are required to prepare the following financial statements using Excel. USE EXCEL EFFICIENTLY AND EFFECTIVELY TO COMPLETE THIS P... ROJECT (cell references, formulas, etc.). (1) Using the data for Tuukka and Crew provided in the sheet labeled "Trial Balance" prepare: Balance Sheet - comparative, classified in proper format for fiscal years 2017 and 2018 Income Statement - multiple-step for fiscal years 2017 and 2018. Include earnings per share data. Statement of Retained Earnings for 2018. Use separate sheets, appropriately named, for each financial statement in good form. List 5 notes that would be required if you were also preparing the notes to these financial statements. Do not prepare the notes, just briefly list the accounts, etc. for which GAAP would require disclosure based on Tuukka's financial statements. (2) Using the data for Pasta's Point. provided in the sheet labeled "Cash Flows" prepare: Statement of Cash Flows for fiscal year 2018 in proper format. Use a separate sheet, appropriately named, for the Statement of Cash Flows. (3) Neatness counts. Make sure the pages break in appropriate places for printing. For instance, make sure the entire balance sheet prints out on one page. Look at the annual report of your favorite company for help with appropriate formatting, subtotalling, underlining, grouping, etc. Pasta's Point List of Items for Statement of Cash Flows Statement December 31, 2018 (thousands of dollars) Cash and Cash Equivalents, January 1, 2018 66,200 Cash and Cash Equivalents, December 31, 2018 186,200 increase in accrued expenses 2,300 $ 120,000 decrease in prepaid expenses 960 increase in inventories 21,350 decrease in income taxes payable 3,500 increase in accounts payable 6,840 gain on sale of investment 11,000 increase in accounts receivable 20,000 gain on sale of land 20,500 dividend payments 33,000 depreciation expense 39,990 payments for purchase of investments 40,500 - payments for purchase of equipment 56,200 120,000 payments for purchase of land 62,500 proceeds from sale of land 85,000 proceeds from the issuance of stock 81,000 proceeds from sale of investments 100,500 net income 120,000 payments made to retire bonds payable 150,000 proceeds from the issuance of a mortgage 175,000 payments for purchase of building 187,500 - - 120,000 66,200 $ 186,200 Tuukka and Crew List of Accounts from General Ledger in Alphabetical Order December 31, 2018 (thousands of dollars) 2017 2018 Dr Cr Dr Cr Accounts Payable 999,210 1,079,837 Accounts Receivable 2,943,125 3,245,967 Accrued Liabilities - Other 508,643 721,358 Accrued Pension Liabilities 650,216 450,356 Accrued Restructuring Charges 126,000 90,476 Accrued Salaries, Wages and Commissions 281,364 350,191 Accumulated Other Comprehensive Income (Loss) 621,236 85,000 Accumulated Depreciation - Property, Plant & Equipment 1,829,634 1,999,999 Accumulated Post-Employment Benefit Obligation (long-term) 802,316 402,634 Additional Paid-in Capital, Common Stock 299,304 299,304 Additional Paid-in Capital, Preferred Stock 75 75 Allowance for Doubtful Accounts 125,436 124,645 Bonds Payable 244,563 249,046 Cash and Cash Equivalents 500,920 751,329 Common Stock ($1.00 par value) 300,000 284,000 Cost of Goods Sold 3,673,235 4,500,275 Current Portion of Long-term Debt 720,125 849,869 Deferred Tax Assets (current) 62,596 81,236 Deferred Tax Liabilities (long-term) 229,000 440,263 Depreciation Expense 307,200 311,236 Dividends - Common 292,351 214,956 Dividends - Preferred 2,000 945 General & Administrative Expenses 1,732,429 1,520,250 Goodwill and Other Intangibles 3,212,491 3,212,491 Income Taxes Payable 246,002 102,563 Interest Expense 201,366 250,000 Interest Income 10,126 18,227 Investments in unconsolidated affiliated companies 1,235,000 2,100,675 Inventories 163,214 324,561 Long-term Debt 3,223,713 3,702,700 (Loss) Income from Discontinued Operations, net of tax 28,100 7,453 Preferred Stock ($10 par value) 900 900 Prepaid Expenses 141,029 170,296 Property, Plant and Equipment 2,943,216 4,989,250 Provision for income taxes 248,105 302,575 Research and Development Expenses 199,500 650,000 Restructuring Charges 199,506 255,013 Retained Earnings, beginning 2,960,256 5,173,286 Sales 9,203,450 10,450,950 Selling Expenses 17,070 128,890 Short-term Investments 20,000 32,892 Treasury Stock, at cost 4,472,969 4,263,984 Unearned Revenues 456,325 423,689 23,216,658 23,216,658 27,306,821 27,306,821 Net Income (loss) - - Weighted average number of common shares: FY 2016: Basic 208,448,076 shares Diluted 210,348,076 shares FY 2015: Basic 218,464,140 shares Diluted 220,964,140 shares I need help with this assignment please show workings in excel please. The Total Assets should be: 9, 266, 521 and 12, 784, 053. [Show More]

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