please provide the formula required to solve each empty yellow box

E27 Name Box ex fx B D E F G H 1 Name Due by 1 Build a Model 2 Chapter: 3 Problem: 9/13/21 5:30 PM 6 20 4 11 5 a. Britton String Corp. manufactures specialty strings for musical instruments and tennis racquets. Its most recent 6 sales were $880 million; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were 7 $300 million; depreciation amounted to 10% of net fixed assets; interest expenses were $22 million; the state-plus- 8 federal corporate tax rate was 25%; and it paid 40% of its net income out in dividends. Given this information, 9 construct its income statement. Also calculate total dividends and the addition to retained earnings. Report all dollar 10 figures in millions 12 The input information required for the problem is outlined in the "Key Input Data" section below. Using this data and the 13 balance sheet above, we constructed the income statement shown below. 14 15 Key Input Data for Britton String Corp. 2022 16 (Millions of dollars) 17 Sales Revenue $880 18 Expenses (excluding depreciation) as a percent of sales 85.0% 19 Net fixed assets $300 20 Depr. as a % of net fixed assets 10.0% 21 Tax rate 25.0% 22 Interest expense $22 23 Dividend Payout Ratio 40% 25 Britton String Corp.: Income Statement 2022 points 26 (Millions of dollars) 27 Sales 0.5 28 Operating costs excluding depreciation EBITDA 30 Depreciation (Cumberland has no amortization charges) 31 EBIT 0.5 32 Interest expense EBT 34 Taxes (25%) 35 Nel income 36 37 Common dividends 0.5 38 Addition to retained earnings 0.5 40 b. Britton String's partial balance sheets follow. Britton issued $36 million of new common stock in the most recent 6-20 + 24 29 0.5 0.5 0.5 33 0.5 0.5 0.5 UN 39 Dad Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates E27 H 1 43 A B D E F G Wwwg 39 40 b. Britton String's partial balance sheets follow. Britton issued $36 million of new common stock in the most recent 41 year. Using this information and the results from part a, fill in the missing values for common stock, retained 42 earnings, total common equity, and total liabilities and equity. 44 Dollar value of common stock issued (in millions of dollars) $36 45 46 Britton String Corp: December 31 Balance Sheets 47 (Millions of dollars) 48 2022 2021 49 Assets 50 Cash and cash equivalents $70 $60 51 Short-term investments $46 $42 52 Accounts Receivable $120 $140 53 Inventories $264 $196 54 Total current assets $500 $438 55 Net fixed assets $300 $262 56 Talalassats $800 $700 57 58 Liabilities and equity 59 Accounts payable $73 $64 60 Accruals $49 $60 61 Notes payable $30 $39 62 Total current liabilities $152 $163 63 Long-term debt $217 $178 points 64 Total liabilities $369 $341 65 Common stock $249 1 66 Rolained earnings $110 1 67 Totalcommon equity $359 68 Total liabilities and camily $700 1 69 70 Always check for balancing (these should be zero): $800.0000 $0.0000 71 72 C. Construct the statement of cash flows for the most recent year. 73 74 Statement of Cash Flows 75 (in thousands of dollars) 76 2022 points 77 Operatina Activities 11 6-20 + 1 E27 E F G ! Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Xfx B D H 72 c. Construct the statement of cash flows for the most recent year. 73 74 Statement of Cash Flows 75 in thousands of dollars) 76 2022 points 77 Operating Activities 11 78 Not Income 0.5 79 Adjustments: BO Noncash adjustment: 81 Depreciation 0.5 82 Due to changes in working capital: 83 Due to change in accounts receivable 0.5 84 Due to change in inventories 0.5 85 Due to change in accounts payable 0.5 86 Due to change in accruals 0.5 87 Net cash provided (used) by operating activities 1 88 89 Investing Activities 90 Cash used to acquire gross fixed assets 0.5 91 Due to change in short-term investments 92 Net cash provided (used) by investing activities 93 94 Financing Activities 95 Due to change in notes payablo 98 Due to change in long-term debt 97 Due to change in common stock 98 Payment of common dividends 99 Net cash provided (used) by financing activities 100 101 Not increase/decrease in cash 102 Add: Cash balance at the beginning of the year 0.5 103 Cash balance at the end of the year 104 105 Check: cash balance in statement of cash flows should equal the cash on $70.000 106 balance sheets; this value should be zero: 107 108 109 110 111 112 6-20 0.5 1 0.5 0.5 0.5 0.5 1 0.5 1 +