### Method 1 – Enter the Assets

- Enter the
*Cash and Cash Equivalents*and the*Accounts Receivable*in the**C8**and**C9**cells. - Go to the
**C10**cell and use the**SUM function**as shown below.

`=SUM(C8:C9)`

**C8 **and **C9** cells refer to the values of *$4,219,625* and *$125,000*.

- Enter the
*Fixed Asset*and*Accumulated Depreciation*in the**C11**and**C12**cells >> calculate the*Net Fixed Assets*using the formula below.

`=SUM(C11:C12)`

The **C11 **and **C12** cells represent the values of *$55,000* and *-$8,500 *respectively.

- Obtain the
*Total Asset*by adding the*Total Current Assets*and the Next Fixed Assets.

`=SUM(C13,C10)`

**C10** and **C13** cells point to the values of *$4,344,625* and *$46,500*.

- Move to the
**D8**cell >> and insert the following expression.

`=C8+J13`

The **C8** and **J18** cells represent the *Cash and Cash Equivalents *for *2021* (*$4,219,625*) and the *Net Cash Flow* (*-$144,822*) values, respectively.

- Compute the
*Account Receivable*using the expression given below.

`=J9*J10`

**J9 **and **J10** cells refer to the *Net Revenue *(*$3,261,968*) and the assumed *Account Receivable* (*4%*) for *2022*.

- Calculate the
*Total Current Assets*as shown previously.

`=SUM(D8:D9)`

**D8 **and **D9** cells refer to the values of *$4,074,803* and *$130,479*.

- Obtain the
*Fixed Asset*using the expression given below.

`=C11+J14`

The **C11** cell represents the *Fixed Asset* (*$55,00*) for *2021,* while the **J14 **cell refers to the assumed *Total Capital Expenditure* of *$67,579*.

- Calculate the
*Accumulated Depreciation*by utilizing the formula given below.

`=C12-J15`

The **C12 **cell indicates the *Accumulated Depreciation* for *2021* (*-$8,500*), and the **J15** cell represents the assumed *Total Depreciation* (*$14,887*).

- Get the
*Net Fixed Assets*for*2022*by applying the following expression.

`=SUM(D11:D12)`

**D11** and **D12** cells point to the *Fixed Asset *(*$122,579*) and *Accumulated Depreciation *(-*$23,387*)*.*

- Obtain the
*Total Asset*by inserting the following equation.

`=SUM(D13,D10)`

The **D13 **and **D10 **cells indicate the *Net Fixed Assets* (*$99,192*)and *Total Current Assets* (*$4,205,282*).

- Use the
**Fill Handle Tool**to copy the formula across the cells.

The output should look like the picture given below.

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### Method 2 – Compute the Liabilities

- Navigate to the
**C16**and**C17**cells >> enter the*Accounts Payable*and the*Unearned Revenue*>> proceed to the**C10**cell and obtain the*Total Current Liabilities.*

`=C16+C17`

**C16** and **C17** cells refer to the values of *$65,000* and *$336,125*.

- Type in the
*Long Term Debt*in the**C19**cell >> Calculate the*Total Liabilities*amounting to*$2,901,125*.

`=SUM(C18:C19)`

**C18 **and **C19** cells represent the *Total Current Liabilities *(*$401,125*) and the *Long Term Debt *(*$2,500,000*).

- Move to the
**D16**cell >> calculate the*Accounts Payable*for*2022*.

`=J9*J11`

The **J9** and **J11** cells represent the *Net Revenue *(*$3,261,968*) and the *Account Payable* (*5%*).

- Obtain the
*Unearned Revenue*using the formula given below.

`=J9*J12`

The **J9** and **J12** cells represent the *Net Revenue *(*$3,261,968*) and the *Unearned Revenue *(*4%*).

- Jump to the
**D18**cell to get the*Total Current Liabilities*valued at*$293,577*.

`=D16+D17`

The **D16** and **D17 **cells point to the *Accounts Payable *(*$163,098*) and *Unearned Revenue *(*$130,479*).

- Obtain the
*Long Term Debt,*which amounts to*$2,256,775*.

`=C19+J17-J18`

The **C19**, **J17**, and **J18 **cells refer to the *Long Term Debt *for *2021 *(*$2,500,000*), *Net Borrowings *(*$0*), and *Debt Repayments* for *2022 *(*$243,225*).

- Compute the
*Total Liabilities*with the given expression >> drag the formula across the other cells.

`=SUM(D18:D19)`

The **D18 **and **D19 **cells represent the *Total Current Liabilities *and the *Long Term Debt*.

### Method 3 – Calculate the Equity

- Proceed to the
**C22**and**C23**cells >> enter the amounts for the*Common Stock*(*$40,000*) and*Retained Earnings*(*$1,450,000*). - Obtain the
*Total Shareholder’s Equity*using the formula below.

`=SUM(C22:C23)`

**C22 **and **C23 **cells indicate the *Common Stock *and *Retained Earnings*.

- Add the
*Total Liabilities*and the*Total Shareholder’s Equity*.

`=C20+C24`

**C20** and **C24** cells represent the *Total Liabilities *(*$2,901,125*) and the *Total Shareholder’s Equity *(*$1,490,000*) *respectively*.

The *Balance Verification* becomes zero, which satisfies the equation: Asset = Liability + Equity.

- Calculate
*2022**Retained Earnings*using the expression below.

`=C23+J16`

The **C23 **cell refers to the *2021* *Retained Earnings *(*$1,450,000*), whereas the **J16 **cell points to the assumed *Net Income* of *$264,122*.

- Calculate the
*Total Shareholder’s Equity*.

`=SUM(D22:D23)`

**D22** and **D23** cells represent the *Common Stock* and *Retained Earnings*.

- Compute the
*Liabilities**and Shareholder’s Equity*and copy the formula to other cells.

`=D20+D24`

**D20** and **D24** cells point to the *Total Liabilities* and *Total Shareholder’s Equity*.

Your results should look like the screenshot given below.

We skipped the process of making **Excel Format for Projected Financial Statements**. You may explore it.

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