Please complete step 2a

Please fill out the balance sheet below according to step 2a

o Step 2: Create starting balance sheet; year 1 actual income statement; and projections for years 2 - 3 of the income statement and years 1 - 3 of the balance sheet. Determine your company's valuation (use 5X projected EBITDA for year 3 ). - Step 2a - Create a beginning balance sheet in which you assume starting assets of $177,000 cash, $70,000 in Inventory and $150,000 in fixed assets. Assume you are able initially to get your suppliers to carry 50% of your inventory in Accounts Payable and you are able to arrange for a Bank Loan of $200,000. You and other founders will need to come up with an additional amount of equity to cover your total assets not financed through trade credit and the bank loan. For part 2a complete the Beginning Balance Sheet values and compute the amount of equity that will be required by you and your fellow founders. BALANCE SHEET \begin{tabular}{llll} Beginning & Year 1 & \multicolumn{1}{c}{ End of Year } \\ Balances & Projected & Year 2 & Year 3 \\ & & Projected & Projected \\ \hline & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & \end{tabular} Inventory Fixed Assets, Net Total Assets Liabilities and Equity Accounts Payable Bank Loan Owners' Initial Equity Retained Earnings Total Owners' Equity Total Liabilities and Equity Additional Capital Required Adjusted Total Liabilities and Equity