Using the format for Alice\'s cash flow statement, prepare your cash flow statem

Question

Using the format for Alice's cash flow statement, prepare your cash flow statement for the same one-year period. Include your cash flows from all sources in addition to your operating cash flows---the income and expenses that appear on your income statement. Also, prepare a balance sheet, again based on Alice's form. List all your assets, liabilities and debts, and your equity from all sources. What does your cash flow statement tell you about your current financial situation? What does the balance sheet show about your financial situation at this moment in time? If you wanted to increase your liquidity, what would you do to change your cash flows; and how would your balance sheet need to change?

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