# -current-liabilities-long-term-debt-and-shareholders-equity-assignment-help-

-current-liabilities-long-term-debt-and-shareholders-equity-assignment-help-

In this activity, you will prepare a financial report. For this, you will first read the following scenario and then complete the steps given below.

Indexed Machinery (IM) is a small manufacturing company located in Seekonk, MA. The owners are working on the companyâ€™s annual financial reporting. The first financial report is an MS Excel worksheet that compares the company’s balance sheets for the previous two years. The report form already has the labels entered for the required line items.

The owners have asked you to complete the report by entering the numeric data and the formulas to perform the financial calculations. Complete the following steps:

1. Open the

Balanceworkbook.

Select the following link to access the Balance workbook.In the file, you will find two worksheets. The first is labeled â€œDocumentationâ€ and the second is labeled â€œBalance Sheet.â€ Save the workbook as

Comparativein the folder where you are storing your files.2. In cells B3 and B4 of the â€œDocumentationâ€ sheet, enter your name and the date. In cell A1, increase the font size of the title to 28 points.

3. The remaining instructions pertain to the Balance Sheet Worksheet. Click on the Balance Sheet worksheet tab. Increase the font size of the title in cell A1 to 28 points. Increase the font size of the subtitle in cell A2 to 20 points and change the word Document to Comparison to the subtitle.4. In the corresponding cells of columns C and D in the Balance Sheet, enter the numbers for the companyâ€™s assets and liabilities.

Row Column CColumn D 4 627,858 645,785 5 405,811 431,982 6 395,648 417,615 7 4,151 2,152 10 26,298 31,252 12 1,750,000 1,800,000 13 77,939 82,164 19 193,644 241,191 20 32,151 31,115 21 100,000 120,000 22 126,524 144,135 25 850,000 815,000 27 1,525,000 1,560,000 28 304,508 335,181 5. Set the widths of column A to 12.00, column B to 28.00, columns C and D to 14.00 each, column E to 2.00, and column F to 10.00.

6. In cells C8 and D8, enter formulas to calculate the

Current Assetsvalue for 2014 and 2015. It is equal to the sum of the

cash, accounts receivable, inventories, and

prepaid expensesvalues of corresponding columns (hint: use the SUM function).7. In cells C14 and D14, enter formulas to calculate the

Net Fixed Assetsvalue for 2014 and 2015. It is equal to the difference between the

fixed assetsvalue and the

accumulated depreciationvalues of the corresponding columns (hint: SUM[C12, -C13]).8. In cells C16 and D16, enter formulas to calculate the

TOTAL ASSETSvalue for 2014 and 2015. It is equal to the sum of the

current assets, other assets, and

net fixed assetsvalues of the corresponding columns.9. In cells C23 and D23, enter formulas to calculate the

Current Liabilitiesvalue for 2014 and 2015. It is the sum of the

accounts payable, accrued expenses, current portion of debt, and

income taxes payablevalues of the corresponding columns.10. In cells C29 and D29, enter formulas to calculate the

Shareholdersâ€™ Equityvalue for 2014 and 2015. It is the sum of the

capital stockand

retained earningsvalues.11. In cells C31 and D31, enter formulas to calculate the

TOTAL LIABILITIES & EQUITYvalue for 2014 and 2015. It is the sum of the

current liabilities, long-term debt, and

shareholders’ equity.12. In a balance sheet, the

TOTAL ASSETSshould equal the

TOTAL LIABILITIES & EQUITY. Compare the values in cells C16 and C31, and then compare the values in cells D16 and D31 to confirm that this is the case for the Indexed Machinery balance sheet in 2014 and 2015. If the values are not equal for either year, check your worksheet for errors in either values or formulas.13. In cell F4, enter a formula using cell references to calculate the percentage change in cash from 2014 to 2015, which is equal to: (2015â€™s value minus 2014â€™s value and then divide the result by 2014â€™s value).

14. Copy the formula in cell F4 and paste it in the nonadjacent range F5:F8; F10; F12:F14; F16; F19:F23; F25; F27:F29; F31 to show the percentage change in all values of the balance sheet.

15. Add borders around the cells in columns B, C, D, and F of the balance sheet, excluding the cells in rows 1, 2, 9, 11, 15, 17, 18, 24, 26, and 30.

16. Merge and Center the Title and subtitle using columns A through F. Add FY for Fiscal Year and a space before the years in columns C and D. Right justify the cells C3, D3 and F3.

17. Display the formulas in the Balance Sheet worksheet, and then set the gridlines and row/column headings to print. Printing the worksheet is not required.

18. Display the Balance Sheet worksheet in Normal view, hide the formulas, set the gridlines and column/row headings so that they won’t print, and then save the workbook.