Directions: Using the information below, complete Table 4, the Mobile Device Company Projected Balance Sheet as of December 31 for Year 1 and Year 2. To complete Table 4, o Fill in the amounts (numbers) for each asset, liability, and equity category. o Be sure to enter commas as needed in the numbers. o For each entry labeled \"total,\" you will need to do the math (addition) to determine the amount to enter in the field. o To determine Net fixed assets, add the amount of Property, plant & equipment to the negative value of Accumulated depreciation. o Total assets should equal Total liabilities and equity for each year. e Be sure to fill in each field on the Balance Sheet table. Revenues: e Year 1: $18,000,000 e Year2: $19,800,000 Asset, Liability, and Equity Amounts to fill in the Balance Sheet: Accounts receivable will be equal to 20% of revenue in both years Inventory will be equal to 10% of revenue in both years Property, plant, & equipment equals $20,000,000 in both years Accounts payable will be equal to 10% of revenues in both years Other current liabilities will be $1,200,000 in year 1 and will grow 10% in year 2 Short-term debt will be $3,000,000 in both years Long-term debt will be $14,000,000 in year 1 and will be paid down by $1,000,000 in year 2 Common stock will be $1,500,000 in both years [GO TO NEXT PAGE] Table 4 Mobile Device Company Projected Balance Sheet As of December 31, Year 1 and Year 2 Assets Current assets: Cash R ALK $3,860,000 Accounts receivable Click or tap here to enter asset amount. Click or tap here to enter asset amount. Inventory Click or tap here to enter asset amount. Click or tap here to enter asset amount. Total current assets $Click or tap here to enter total current assets. $Click or tap here to enter total current assets. | UV CIELEC R Property, plant, & equipment Click or tap here to enter asset amount. Click or tap here to enter asset amount. Accumulated Depreciation (4,000,000) (5,000,000) Net fixed assets Click or tap here to enter net fixed asset amount. Click or tap here to enter net fixed asset amount. TOTAL ASSETS $Click or tap here to enter amount of total assets. $Click or tap here to enter amount of total assets. [GO TO NEXT PAGE] Liabilities and Equity Current liabilities: Accounts payable Other current liabilities Short-term debt Total current liabilities Long-term debt Total debt Owner's equity Common stock Retained earnings PRI RO T Rl T TOTAL LIABILITIES AND EQUITY $Click or tap here to enter liability amount. Click or tap here to enter liability amount. Click or tap here to enter liability amount. $Click or tap here to enter amount of total current liabilities. Click or tap here to enter liability amount. $Click or tap here to enter amount of total debt. Click or tap here to enter equity amount. 2,500,000 $Click or tap here to enter total liabilities and equity. $Click or tap here to enter liability amount. Click or tap here to enter liability amount. Click or tap here to enter liability amount. $Click or tap here to enter amount of total current liabilities. Click or tap here to enter liability amount. $Click or tap here to enter amount of total debt. Click or tap here to enter equity amount. 4,000,000 Click or tap here to enter total equity amount. Click or tap here to enter total equity amount. $Click or tap here to enter total liabilities and equity