please do the following problem given in the pic.... step wise with full formulas and steps only in Microsoft Excel sheet.... asap

Start with the partial model in the file Ch12 PII Buld a Model.xlsx on the textbook's Web site, which contains Henley Corporation's most recent financial statements. Use the following ratias and other selected information for the current and projected years to answer the questions that follow. 11) Hel: and or Actual Projected 12/31 12/31/ 12/31/ 12/31/ 12/31/ 2019 2020 2021 2022 2023 Sales growth rate Costs/Sales Depreciation/(Net PPE) Cash/Sales 6% 15% 10% 6% 72 72% 72 72 72 10 10 10 10 10 (Accounts receivableVSales (InventoriesVSales (Net PPEVSales (Accounts payable/Sales Accruals/Sales Tax rate 10 10 10 20 20 20 20 20 75 75 75 75 75 2 2 2 2 2 S 40 40 40 40 40 Weighted average cost of capital (WACC) 10.5 10.5 10.5 10.5 10.5 a. Forecast the parts of the income statement and balance sheet that are necessary for calculating free cash flow b. Calculate free cash flow for each projected year. Also calculate the growth rates in free cash flow each year to ensure that there is constant growth (that is, the same as the constant growth rate in sales) by the end of the forecast period. angage Leaming Allaighs Rasved May mot be copied scanned, er duplicaned in whale or in part. CN 0-200-20 Coeporate Valuation and Governance Part5 c. Calculate the return on invested capital (ROIC NOPATITotal net operating capital) and the growth rate in free cash flow. What is the ROIC in the last year of the forecast? What is the long-term constant growth rate in free cash flowe (g, is the growth rate in FCF in the last farecast periad because all ratias are constant? Do you think that Hensley's value would increase if it could add growth without reduc ing its ROIC? (Hint: Grawth will add value if the ROIC> WACC WACC] Do you think that the company will have a value of operations greater than its total net operating capital? (Hint: Is ROIC> WACCI d. Cakulate the current value of operations. (Hint: First calculate the horizon value at the end of the forecast periad, which is equal to the vale of aperations at the end of the forecast period. Assume that the annual growth rate beyond the horizon is equal to the growth rate at the horizon) How does the current value of operations com pare with the current amount of total net operating capital? e. Cakulate the intrinsic price per share of common equity as of December 31, 2019 -ang Start with the partial model in the file Ch12 PII Buld a Model.xlsx on the textbook's Web site, which contains Henley Corporation's most recent financial statements. Use the following ratias and other selected information for the current and projected years to answer the questions that follow. 11) Hel: and or Actual Projected 12/31 12/31/ 12/31/ 12/31/ 12/31/ 2019 2020 2021 2022 2023 Sales growth rate Costs/Sales Depreciation/(Net PPE) Cash/Sales 6% 15% 10% 6% 72 72% 72 72 72 10 10 10 10 10 (Accounts receivableVSales (InventoriesVSales (Net PPEVSales (Accounts payable/Sales Accruals/Sales Tax rate 10 10 10 20 20 20 20 20 75 75 75 75 75 2 2 2 2 2 S 40 40 40 40 40 Weighted average cost of capital (WACC) 10.5 10.5 10.5 10.5 10.5 a. Forecast the parts of the income statement and balance sheet that are necessary for calculating free cash flow b. Calculate free cash flow for each projected year. Also calculate the growth rates in free cash flow each year to ensure that there is constant growth (that is, the same as the constant growth rate in sales) by the end of the forecast period. angage Leaming Allaighs Rasved May mot be copied scanned, er duplicaned in whale or in part. CN 0-200-20 Coeporate Valuation and Governance Part5 c. Calculate the return on invested capital (ROIC NOPATITotal net operating capital) and the growth rate in free cash flow. What is the ROIC in the last year of the forecast? What is the long-term constant growth rate in free cash flowe (g, is the growth rate in FCF in the last farecast periad because all ratias are constant? Do you think that Hensley's value would increase if it could add growth without reduc ing its ROIC? (Hint: Grawth will add value if the ROIC> WACC WACC] Do you think that the company will have a value of operations greater than its total net operating capital? (Hint: Is ROIC> WACCI d. Cakulate the current value of operations. (Hint: First calculate the horizon value at the end of the forecast periad, which is equal to the vale of aperations at the end of the forecast period. Assume that the annual growth rate beyond the horizon is equal to the growth rate at the horizon) How does the current value of operations com pare with the current amount of total net operating capital? e. Cakulate the intrinsic price per share of common equity as of December 31, 2019 -ang