1. Complete Income Statement of 2021 & 20222. Complete Balance Sheet of 2021 & 2022

FINA 6305 HW#1 (Summer 2023) Input area: In Thousands$ 2021 2022 Cost of goods sold 196,619 248,263 Cash 28,372 42,865 Depreciation $5,506 62,738 Interest expense 2,067 3,831 Selling & Administrative 38,668 50,469 Accounts payable 20,143 34,091 Net fixed assets 244,881 298.350 Sales 385,724 470,172 Accounts receivable 20,104 26,078 Notes payable 22,855 24.955 Long-term debt 123.607 140,000 Inventory 38.706 52,057 New equity 15,000 Tax rate 21% 21% Dividend percentage 25% 30% Instructions To earn credit, please make sure to use referecne cell in formular. For example, to enter "Sales" in 2021, you should enter "=D14". If you directly enter numbers as your answers below, there would be no credit. If you don't know how to use reference cell in formular, please watch https://support.microsoft.com/en-us/office/video-understand-and-use-cell-references-ecb125bb-cocb-48c1-b30f-cdblacc05261 Questions: 1. Complete Income Statement of 2021 & 2022 2. Complete Balance Sheet of 2021 & 2022 Output area: 2021 Income Statement 2022 Income Statement Sales Sales Cost of goods sold Cost of goods sold Selling & Administrative Selling & Administrative Depreciation Depreciation BIT EBIT Interest nterest EBT EBT Taxes Taxes Net income Net income Dividends Dividends Addition to retained earnings Addition to retained earnings Balance sheet as of Dec. 31, 2021 Cash Accounts payable Accounts receivable Notes payable Inventory Current liabilities Current assets Long-term debt Net fixed assets Owners' equity Total assets Total liab. & equity Balance sheet as of Dec. 31, 2022 Cash Accounts payable Accounts receivable Notes payable Inventory Current liabilities Current assets Long-term debt Net fixed assets Owners' equity Total assets Total liab. & equity