Using Excel, prepare the following:

Horizontal Analysis Vertical Analysis Calculate the return on equity with the DuPont model Calculate the sustainable growth rate.

ASSETS:	2020	2019
Current Assets
Cash & Equivalents	283,134.00	63,624.00
Marketable Securities	572,060.00	112,777.00
Accounts Receivable - Net	120,435.00	63,613.00
Deferred acquisition costs	44,885.00	26,453.00
Prepaids	75,008.00	10,252.00
Total Current Assets	1,095,522.00	276,719.00
Deferred contract costs (noncurrent)	46,245.00	29,063.00
PPE	57,138.00	37,275.00
Operating Lease rights	68,608.00	-
Other noncurrent assets	22,332.00	11,508.00
Total Assets	1,289,845.00	354,565.00
Current Liabilities:
AP	1,596.00	4,963.00
Accrued Expenses	122,692.00	32,256.00
Deferred Revenue	209,542.00	115,122.00
Total Current Liabilities	333,830.00	152,341.00
Deferred Revenue (noncurrent)	20,994.00	10,651.00
Operating Lease Liabilities (noncurrent)	64,792.00	-
Other noncurrent Liabilities	36,286.00	39,460.00
Total Liabilities	455,902.00	202,452.00
Common Stock	277.00	89.00
Additional Paid in Capital	832,705.00	162,312.00
Accumulated OCI	809.00	(135.00)
Retained Earnings	152.00	(10,153.00)
Total Stockholders' Equity	833,943.00	152,113.00
Total Liabilities + Equity	1,289,845.00	354,565.00

	2020	2019
Revenue	622,658.00	330,517.00
Cost of Revenue	115,396.00	61,001.00
Gross Profit	507,262.00	269,516.00
Operating Expenses
R&D	67,079.00	33,014.00
Sales & Marketing	340,646.00	185,821.00
G&A	86,841.00	44,514.00
Total Operating Expenses	494,566.00	263,349.00
Income from Operations	12,696.00	6,167.00
Interest income	13,666.00	2,182.00
Net Income	26,362.00	8,349.00
Income Tax Provision	1,057.00	765.00
Net Income	25,305.00	7,584.00
Assume that dividends were 15,000