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 comp

1. Open the Balance workbook.

Select the following link to access the Balance workbook.

[XLS file size 12KB]
In the file, you will find two worksheets. The first is labeled “Documentation” and the second is labeled “Balance Sheet.” Save the workbook as Comparative in the folder where you are storing your files.
2. In cells B3 and B4 of the “Documentation” 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 in the subtitle.
4. In the corresponding cells of columns C and D in the Balance Sheet, enter the numbers for the company’s assets and liabilities.

Row	Column C	Column D
	627,858	645,785
	405,811	431,982
	395,648	417,615
	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 Assets value for LAST YEAR and THIS YEAR. It is equal to the sum of the cash, accounts receivable, inventories, and prepaid expenses values of corresponding columns (hint: use the SUM function).

7.  In cells C14 and D14, enter formulas to calculate the Net Fixed Assets value for LAST YEAR and THIS YEAR. It is equal to the difference between the fixed assets value and the accumulated depreciation values of the corresponding columns (hint: SUM[C12, -C13]).
8.  In cells C16 and D16, enter formulas to calculate the TOTAL ASSETS value for LAST YEAR and THIS YEAR. It is equal to the sum of the current assets, other assets, and net fixed assets values of the corresponding columns.
9.  In cells C23 and D23, enter formulas to calculate the Current Liabilities value for LAST YEAR and THIS YEAR. It is the sum of the accounts payable, accrued expenses, current portion of debt, and income taxes payable values of the corresponding columns.
10.  In cells C29 and D29, enter formulas to calculate the Shareholders’ Equity value for LAST YEAR and THIS YEAR. It is the sum of the capital stock and retained earnings values.
11.  In cells C31 and D31, enter formulas to calculate the TOTAL LIABILITIES & EQUITY value for LAST YEAR and THIS YEAR. It is the sum of the current liabilities, long-term debt, and shareholders' equity.
12.  In a balance sheet, the TOTAL ASSETS should 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 LAST YEAR and THIS YEAR. 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 LAST YEAR to THIS YEAR, which is equal to: (THIS YEAR’s value minus LAST YEAR’s value and then divide the result by LAST YEAR’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.

Once you have successfully completed all of the steps in this assignment, post your Comparative workbook.