Complete the Year 2 income statement data for Cute Camel, then answer the questions that folllow. Be sure to round each dollar value to the nearest whole dollar. Cute Camel Woodcraft Company Income Statement for Year Ending December 31 Year 2 Year 1 (Forecasted) Net sales $20,000,000 Less: Operating costs, except depreciation and amortization 16,000,000 Less: Depreciation and amortization expenses 800,000 800,000 Operating income (or EBIT) $3,200,000 Less: Interest expense 320,000 Pre-tax income (or EBT) 2,880,000 Less: Taxes (40% ) 1,152,000 Earnings after taxes $1,728,000 Less: Preferred stock dividends 100,000 Earnings available to common shareholders 1,628,000 Less: Common stock dividends 604,800 Contribution to retained earnings $1,023,200 $1,292,300 en the results of the previous income statement calculations, complete the following statements: In Year 2, if Cute Camel has 10,000 shares of preferred stock issued and outstanding, then each preferred share should expect to receive in annual dividends. If Cute Camel has 500,000 shares of common stock issued and outstanding, then the firm's earnings per share (EPS) is expected to change in Year 2 in Year 1 to from in Year 1 to Cute Camel's before interest, taxes, depreciation and amortization (EBITDA) value changed from in Year 2. to say that Cute Camel's net inflows and outflows of cash at the end of Years 1 and 2 are equal to the company's annual of the item reported in the It is contribution to retained earnings, $1,023,200 and $1,292,300, respectively. This is because income statement involve payments and receipts of cash Given the results of the previous income statement calculations, complete the following statements: In Year 2, if Cute Camel has 10,000 shares of preferred stock issued and outstanding, then each preferred share should expect to receive in annual dividends. If Cute Camel has 500,000 shares of common stock issued and outstanding, then the firm's earnings per share (EPS) is expected to change in Year 2. in Year 1 to from in Year 1 to Cute Camel's before interest, taxes, depreciation and amortization (EBITDA) value changed from in Year 2. to say that Cute Camel's net inflows and outflows of cash at the end of Years 1 and 2 are equal to the company's annual of the item reported in the It is contribution to retained earnings, $1,023,200 and $1,292,300, respectively. This is because income statement involve payments and receipts of cash. 2. Balance sheet Aa Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Cold Goose Metal Works Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Cold Goose Metal Works Inc. Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 1 Year Year 2 Year 1 Assets Liabilities and equity Current assets: Current liabilities: Cash and equivalents $5,535 Accounts payable $0 $0 Accounts receivable 2,531 2,025 Accruals 352 0 Inventories 7,425 5,940 Notes payable 1,992 1,875 Total current assets $16,875 $13,500 Total current liabilities $1,875 Net fixed assets: Long-term debt 7,031 5,625 Net plant and equipment $16,500 Total debt $9,375 $7,500 Common equity: Common stock 18,281 14,625 Retained earnings 7,875 Total common equity $28,125 $22,500 Total assets $37,500 $30,000 Total liabilities and equity $37,500 $30,000