please provide answers in same excelsheet
Sheet1 Sussan Industries purchased a drilling machine for $50,0000 and paid cash. Sussman expects to use the machine for 10 years, after which it will have no valve. It will be depriciated stright line over the 10 years. Assume a tax rate of 40%z. What are the cash flow associated with the machine. a. at the time of the purchase. b. in each of the following 10 years? Sheet2 Jill Meier is the sole owner of Meier Corp, which provides her only source of income. Jill has always paid herself entierly by drawing dividends from her corporation. A friend suggested that as long as she is earning about what she would have to pay someone else to run the business,she might be better off paying herself a salary instead of dividends because she would avoid the problem of double taxation. If Jill's company earns $120,000, all of which she would avoid tthe problem of double taxation. If Jill's company earns $120,000, all of which she will pay to herself, how much will she take home under each method? Assume a corporate tax rate of %30 and a personal tax rate of 25% on both salary and dividend income. Sheet3 The Glavits Company opened for business on Monday, June 1, with inventory of $5,000 and cash in the bank of $7,000. These were its only assets. All start-up financing was provided from the owner’s personal funds, and there were no other liabilities. The firm has a line of credit at the bank that enables it to borrow up to $20,000 by writing overdraft checks on its account.Glavits’s terms of sale are net 30, but the new firm must pay its suppliers in 10 days. Employees are the company’s only expense. They’re paid a total of $1,000 per week each Friday afternoon for the week just ending.On June 3, the company made a sale of $9,000 out of inventory with a cost of $3,000. On June 10, it received $2,000 of new inventory. There were no other sales or inventory receipts. The company bought a delivery truck, paying with a $6,000 check on June 30. The books were closed for the month on Tuesday, June 30.Construct Glavits’s income statement and balance sheet for June using the worksheet shown. Ignore taxes for this problem. First, enter the beginning balance sheet. Next, enter one number two times in each column to reflect the transaction indicated at the top of the column. Note that sometimes the numbers will be additions and sometimes they will be subtractions. Finally, add across the page to get the statements for June. Worksheet RowsWorksheet Columns 1. Balance Sheet1.Opening balance sheet 2.Assets2.Record Sales 3.Cash3.Record coat of sale 4.Accounts recivable4.Recive inventory 5.Inventory5. Pay for inventory 6.Fixed assets(net)6.Buy truck 7.Total assets7. Pay employees-First 4 weeks 8.(skip)8.Payemployees-last 2 days 9.Liablities)9.Reclassify cash overdraft as loan' 10.Accounts payable10.Record net income as income and equity 11.Accurals11.(skip) 12.Debts12.June statements 13.Equity 14.Totalliablities & equity 15(skips) 16.INCOME STATEMENTS 17.Sales 18.Cost 19.Expense 20.Net Income Sheet4 The Snyder Corporation had the following income and expense items.Sales $180,870,000Cost 110,450,000Expenses 65,560,000 In addition, it received both interest and dividends from the Bevins Corp., of which it owns 30%. The interest received from Bevins was $2,430,000, and the dividends were $4,700,000.