Prepare a cash flow statement using the following data. Assumethat no taxes are due on asset purchases or sales. Prepare a formalcash flow statement that contains the relevant subtotals. Showvalues in whole dollars (no cents). Indicate the ending cashbalance. Show two decimal places on all answers and show cellcalculations within excel.
Beginning of yearDuring YearEnd of yearCash$360,600Net Income$958,000Staff Expenses$724,600Facility Expenses$887,200Asset Sale$156,530Asset Purchase$1,240,400Tax rate22.5%Inventory$84,000$87,000Accounts Receivable$78,000$73,000Accounts Payable$75,000$78,000Depreciation$89,500Interest Paid on Loan$76,000Loan Principle payment$50,000New Loan$500,000Dividends Paid$100,000