Question

I really need some help with some direction as to how this should look. I'm wondering how I should start.
Cumulative Spreadsheet Analysis
Beginning with Chapter 2, each chapter in this text will include a spreadsheet assignment based on the financial information of a fictitious company named Skywalker Enterprises. The assignments start out simple—in this chapter you are not asked to do much more than set up financial statement formats and input some numbers. In succeeding chapters, the spreadsheets will get more complex so that by the end of the course you will have constructed a spreadsheet that allows you to forecast operating cash flows for five years in the future, adjust your forecast depending on the operating parameters that you think are most reasonable, and analyze the impact of a variety of accounting assumptions on the reported numbers.
So, let’s get started with the first spreadsheet assignment

1. The following numbers are for Skywalker Enterprises for 2015. $ 30 35 27 150 30 253 Investment Securities (current 70 Income Tax Expense Retained Earnings (as of Short-Term Loans Payable Unearned Revenue Interest Expense Paid-In Capital Cash Other Long-Term Liabilities Dividends Accumulated Depreciation Other Long-Term Assets Inventory Cost of Goods Sold Long-Term Debt 12 January 1, 2015) 93 Receivables Long-Term Investments Sales Accounts Payable Other Equity Property, Plant, and Equipment Other Operating Expenses 81 250 2,100 27 40 459 1,557 621 72 597 480 Your assignment is to create a spreadsheet containing a balance sheet and an income statement for Skywalker Enterprises. Skywalker is wondering what its balance sheet and income statement would have looked like if the following numbers were changed as indicated 2. Change Sales Cost of Goods Sol Other Operating Expenses From $2,100 1,557 480 To $2,190 1,650 495 Create a second spreadsheet with the numbers changed as indicated. (Note: After making these changes, your balance sheet may no longer balance) Eliminate any discrepancy by increasing or decreasing Short-Term Loans Payable as much as necessary

Answer 1

Answer 1

Income Statement

Particulars	Amount	Amount
Sales	$2100
(-) Less cost of goods sold	($1557)
Gross Profit		$543
Expenses:-
Other operating expenses		($480)
Interest expenses		($27)
Tax expenses		($12)
Net Profit		$24

Balance sheet

Labilities	Amount	Amount	Assets	Amount	Amount
Shareholder's fund			Non Current Assets
Paid in capital		$150	1. Tangible assets
Retained Earnings	$93		Plant Property & Equipment	$597
(+) Net Profit	$24	$117	(-) Accumulated Depreciation	($27)	$570
Other equity		$72
			2. Long term Investments		$250
Non current Laibilities			3. Other Long term assets		$40
Long term debt	$621
Other long term liabilities	$253	$874	Current Assets
			Receivable	$81
Current Liabilitirs			Cash	$30
Accounts Payable	$222		Inventory	$459
Short term loans payable	$30		Investments	$70	$640
Unearned revenue	$35	$287
Total		$1500	Total		$1500

Answer 2

Income Statement

Particulars	Amount	Amount
Sales	$2190
(-) Less cost of goods sold	($1650)
Gross Profit		$540
Expenses:-
Other operating expenses		($495)
Interest expenses		($27)
Tax expenses		($12)
Net Profit		$6

Balance sheet

Labilities	Amount	Amount	Assets	Amount	Amount
Shareholder's fund			Non Current Assets
Paid in capital		$150	1. Tangible assets
Retained Earnings	$93		Plant Property & Equipment	$597
(+) Net Profit	$6	$99	(-) Accumulated Depreciation	($27)	$570
Other equity		$72
			2. Long term Investments		$250
Non current Laibilities			3. Other Long term assets		$40
Long term debt	$621
Other long term liabilities	$253	$874	Current Assets
			Receivable	$81
Current Liabilitirs			Cash	$30
Accounts Payable	$222		Inventory	$459
Short term loans payable ($30 + $18)	$48		Investments	$70	$640
Unearned revenue	$35	$305
Total		$1500	Total		$1500