1. Assume that Intel is to expand in 2022 through 2026 at the same trend that it experienced during 2015 through 2019. Derive the income statement and balance sheet for 2022 through 2026 by utilizing the percent of sales approach. 12 2. Derive the external funding needs 13 (EFN) for both 2022 and 2023 based on the pro forma financials in question #1 above. 3. Discuss your recommended funding strategy for the EFNs? 4. Assess the implications of your recommended EFNs funding on Intel's capitalization structure. 5. Discuss how your answer to the above question #2 be affected if the firm operates at less than full capacity utilization. 12 See for instance Stephen A. Ross, Randolph W. Westerfield, Jaffrey Jaffe and 1. Assume that Intel is to expand in 2022 through 2026 at the same trend that it experienced during 2015 through 2019. Derive the income statement and balance sheet for 2022 through 2026 by utilizing the percent of sales approach. 12 2. Derive the external funding needs 13 (EFN) for both 2022 and 2023 based on the pro forma financials in question #1 above. 3. Discuss your recommended funding strategy for the EFNs? 4. Assess the implications of your recommended EFNs funding on Intel's capitalization structure. 5. Discuss how your answer to the above question #2 be affected if the firm operates at less than full capacity utilization. 12 See for instance Stephen A. Ross, Randolph W. Westerfield, Jaffrey Jaffe and