W01 Study & Practice: Lesson 1.4 Due Sep 6 at 11:59pm Points 50 Questions 44 Available until Sep 20 at 11:59pm Time Limit None Allowed Attempts 3 Instructions Task: Study the chapter and complete this quiz. Purpose: Assess your knowledge about key concepts and principles of Financial Statements. Conditions Read the Lesson 1.4 chapter, from the Business Finance textbook. Download the Assessment 1.4 spreadsheet Download Assessment 1.4 spreadsheetfor the quiz. Complete the proforma 1&2 calculations in the spreadsheet BEFORE taking the quiz. We want to see what the year would have looked like if we had charged a different price for our product. (We are recalculating the current year, not calculating what next year could look like.) - Hint: as you calculate the CHANGES in the income statement, know that CHANGES on the balance sheet cannot be bigger than the change in Net Income on the income statement. Assume that there is no change to debt in either proforma. Also, assume no change to DSO. Build out all other impacts to the financials assuming these changes. Also, since we are just recasting our current year results, our tax rate should not change either. In the Proforma 1 column, you will