Using the data presented below:
a. Recreate the income statement and balance sheet using formulas wherever possible. Each statement should be on a separate worksheet. Try to duplicate the formatting exactly.
b. On another worksheet, create a statement of cash flows for 2011. Do not enter any numbers directly on this worksheet. All formulas should be linked directly to the source on previous worksheets.
c. Using Excel's outlining feature, create an outline on the statement of cash flows that, when collapsed, shows only the subtotals for each section.
d. Suppose that sales were $3,800,000 in 2011 rather than $3,500,000. What is the 2011 net income and retained earnings?
e. Undo the changes from part d, and change the tax rate to 40%. What is the 2011 net income and retained earnings?