Required: 1. In excel, prepare the Income Statement & Statement of Cash Flows for the year ended December 31, 2021. 2. Calculate the Earnings per Share for 2021. 3. Calculate the following financial ratios for 2021: a. Profit Margin b. Return on Investment C. Return on Equity d. Receivables Turnover e. Average Collection Period f. Inventory Turnover & Capital Asset Turnover h. Total Asset Turnover i. Current Ratio j. Quick Ratio k. Debt to Total Assets 1. Times Interest Earning m. Fixed Charge Coverage 4. Use the ratios above to assess the company's performance relative to the industry. Do you see any potential problems? Ratio Profit Margin Return on Investment Return on Equity Receivables Turnover Average Collection Period Inventory Turnover Capital Asset Turnover Total Asset Turnover Current Ratio Quick Ratio Debt to Total Assets Times Interest Earning Fixed Charge Coverage Industry Average 17.5% 20.8% 35% 4.4 68 days 3.5 2.4 0.76 1.28 0.85 0.45 12 3.6 Below is financial information for your organization. Balance Sheet As of Dec 31, 2021 Assets Cash A/R Inventory PPE 2014 2021 Liabilities $13,000 $15,000 A/P 10,000 22,000 N/P 40,000 30,000 Accrued Expenses 73,000 73,000 Long Terms Payable Shareholders' Equity 2014 2021 30000 $21,000 10000 20,000 3000 5,000 40,000 30,000 53,000 64,000 Total Assets $136,00 0 $140,00 Total Liabilities & Shareholders' 0 Equity $136,00 $140,00 0 0 In 2021, your organization made sales on 80% credit of $120,000. You incurred COGS expenses of $45,000, Selling & Admin Expenses of $20,000, Lease Expenses of $8,000, and Interest Expenses of $5,000. In addition you had to pay Taxes @25% on EBT. At the end of 2021, you had 15,000 common shares outstanding Required: 1. In excel, prepare the Income Statement & Statement of Cash Flows for the year ended December 31, 2021. 2. Calculate the Earnings per Share for 2021. 3. Calculate the following financial ratios for 2021: a. Profit Margin b. Return on Investment C. Return on Equity d. Receivables Turnover e. Average Collection Period f. Inventory Turnover & Capital Asset Turnover h. Total Asset Turnover i. Current Ratio j. Quick Ratio k. Debt to Total Assets 1. Times Interest Earning m. Fixed Charge Coverage 4. Use the ratios above to assess the company's performance relative to the industry. Do you see any potential problems? Ratio Profit Margin Return on Investment Return on Equity Receivables Turnover Average Collection Period Inventory Turnover Capital Asset Turnover Total Asset Turnover Current Ratio Quick Ratio Debt to Total Assets Times Interest Earning Fixed Charge Coverage Industry Average 17.5% 20.8% 35% 4.4 68 days 3.5 2.4 0.76 1.28 0.85 0.45 12 3.6 Below is financial information for your organization. Balance Sheet As of Dec 31, 2021 Assets Cash A/R Inventory PPE 2014 2021 Liabilities $13,000 $15,000 A/P 10,000 22,000 N/P 40,000 30,000 Accrued Expenses 73,000 73,000 Long Terms Payable Shareholders' Equity 2014 2021 30000 $21,000 10000 20,000 3000 5,000 40,000 30,000 53,000 64,000 Total Assets $136,00 0 $140,00 Total Liabilities & Shareholders' 0 Equity $136,00 $140,00 0 0 In 2021, your organization made sales on 80% credit of $120,000. You incurred COGS expenses of $45,000, Selling & Admin Expenses of $20,000, Lease Expenses of $8,000, and Interest Expenses of $5,000. In addition you had to pay Taxes @25% on EBT. At the end of 2021, you had 15,000 common shares outstanding