I need help with the retained earnings statement and the balance sheet. Please show formulas for how you got the answers if there are any.

Please show formulas for excel if there are any

Points Possible: 40 ( 5% of semester grade ) Due Sunday, 12/11/2022 by 11:55 pm (does not have to be submitted anywhere, simply stop modifying the templates before that time) Method of submission: to be completed using Google Docs; no submission is required other than completing the assignment within OPTIMA, INC. Regarding Inventory: Work-in-process has a zero beginning and ending balance. Direct Materials Inventory dollar amounts need to be rolled foward to get the ending balance: (Beginning + Purchased Used = Ending) Finished Goods Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Produced Sold = Ending) Optima Company Balance Sheet 12/31/2019 Assets \begin{tabular}{lrr} \hline Cash & $ & 250,000.00 \\ Finished goods invenotry & 650,000.00 \\ Direct materials inventory & 60,300.00 \\ Accounts receivable & 225,000.00 \\ Plant, Property, and equipment, net & 3,500,000.00 \\ \cline { 2 - 3 } Total assets & 4,685,300.00 \\ \cline { 3 - 3 } & \end{tabular} Liabilities and Stockholders' Equity Accounts Payable Capital Stock Retained earnings Total liabilities and stockholders equity \$5 90,000.003,000,000.001,595,300.004,685,300.000.00 Points Optima Company Sales Budget for the year ending December 31, 2020 Budgeted Sales (Units) Unit Price \begin{tabular}{rrrrr} \multicolumn{1}{c}{ Qtr. 1 } & \multicolumn{1}{c}{ Qtr. 2 } & \multicolumn{1}{c}{ Qtr. 3 } & \multicolumn{1}{c}{ Qtr. 4 } & \multicolumn{1}{r}{ Total } \\ \hline 65,000.00 & 70,000.00 & 75,000.00 & 90,000.00 & 300,000.00 \\ 33.50 & 33.50 & 33.50 & 33.50 & 33.50 \\ \hline$2,177,500.00 & $2,345,000.00 & $2,512,500.00 & $3,015,000.00 & $10,050,000.00 \\ \hline \end{tabular} Optima Company Production Budget for the year ending December 31, 2020 Budgeted Sales (Units) Desired Ending Inventory (Units) \begin{tabular}{rrrrr} \multicolumn{1}{c}{ Qtr. 1 } & Qtr. 2 & \multicolumn{1}{c}{ Qtr. 3 } & \multicolumn{1}{c}{ Qtr. 4 } & \multicolumn{1}{l}{ Total } \\ \hline 65,000 & 70,000 & 75,000 & 90,000 & 300,000 \\ \hline 28,000 & 30,000 & 36,000 & 36,000 & 130,000 \\ \hline(26,000) & (28,000) & (30,000) & (36,000) & (120,000) \\ \hline 67,000 & 72,000 & 81,000 & 90,000 & 310,000 \\ \hline \end{tabular} Optima Company Direct Materials Purchases Budget for the year ending December 31, 2020 Budgeted Production (Units) \begin{tabular}{rrrrr} \multicolumn{1}{c}{ Qtr. 1 } & Qtr. 2 & Qtr. 3 & \multicolumn{1}{l}{ Qtr. 4 } & \multicolumn{1}{l}{ Total } \\ \hline 67,000 & 72,000 & 81,000 & 90,000 & 310,000 \\ 3 & 3 & 3 & 3 & 3 \\ \hline 201,000 & 216,000 & 243,000 & 270,000 & 930,000 \\ 64,800 & 72,900 & 81,000 & 27,000 & 245,700 \\ (60,300) & (64,800) & (72,900) & (81,000) & (279,000) \\ \hline 205,500 & 224,100 & 251,100 & 216,000 & 896,700 \\ 2.00 & 2.00 & 2.00 & 2.00 & 2.00 \\ \hline$411,000.00 & $448,200.00 & $502,200.00 & $432,000.00 & $1,793,400.00 \\ \hline \end{tabular} Optima Company Direct Labor Budget for the year ending December 31, 2020 Budgeted Production (Units) Hours per unit Hours needed Cost per hour Total Cost \begin{tabular}{rrrrr} \multicolumn{1}{c}{ Qtr. 1 } & Qtr. 2 & Qtr. 3 & \multicolumn{1}{c}{ Qtr. 4 } & \multicolumn{1}{l}{ Total } \\ \hline 67,000 & 72,000 & 81,000 & 90,000 & 310,000 \\ 0.50 & 0.50 & 0.50 & 0.50 & 0.50 \\ \hline 33,500.00 & 36,000.00 & 40,500.00 & 45,000.00 & 155,000.00 \\ 15.00 & 15.00 & 15.00 & 15.00 & 15.00 \\ \hline$502,500.00 & $540,000.00 & $607,500.00 & $675,000.00 & $2,325,000.00 \\ \hline \end{tabular} Optima Company Selling and Administrative Expenses Budget 2 Points Optima Company Budgeted Cost Per Unit 2 Points Optima Company Cost of Goods Sold Budget 2 Points 5 Points Optima Company Retained Earnings Statement Beginning Retained Earnings 2 Points Add: Net Income(Loss) Deduct Dividends Ending Retained Earnings Optima Company Balance Sheet Decmeber 31, 2020 Assets Liabilities and Stockholders Equity 4 Points Cash 719,569.33 Accounts Payable Accounts Receivable Line of Credit Payable Finished Goods Inventory Capital Stock Total Direct Materials Inventory Retained Earnings 40 Points Plant, Property, and Equipment Total Assets Total Liabilities \& Stockholders' E 0