Question: For FY 2021: * Develop a statistical budget. Develop a revenue budget and four expense budgets in statement of operations format including detailed footnotes explaining any changes in the numbers. (1) Increase rates the maximum allowed and increase expenses the maximum requested. (2) Increase rates the maximum allowed and maintain expenses at FY 2020 levels after adjusting for volumes. (3) Increase rates the maximum allowed and cut expenses to break even in FY 2021. (4) Increase rates the maximum allowed and cut expenses to recover FY 2020 losses. Answer: Ratios Liquidity: CMMC Current ratio .83 Collection ratio .0036 Days cash-on-hand, short-term sources -91.02 Days cash-on-hand, all sources -52.02 Payment ratio -473.08 Profitability: Operating margin Total margin Return on net assets 26.92% 44.18% 896.16% Efficiency: Total asset turnover 2.27 Age of plant 2.73 Fixed asset turnover 20.31 Current asset turnover 4.48 Inventory turnover 40.11 Capital Structure: Net asset financing 11.16% Long-term debt to capital 71.43% Cash flow to debt 420.29%