1) The 2020 balance sheet and income statement for the Woods Company are requirements shown here: Wood Company: Halance and Income Statement is of December 31, 2020 (5 thousands) SO Accounts payable 160 Sales Accounts receivable 240 Accruals 40 Variable Costs Inventaris 720 Notes payable 252 Contribution Marin Current 1040 Current liabilities 452 Fixed Expenses Fixed assets 3200 Long-term debit 1244 EBIT Total Assets 4240 Common stock 1605 Interest Retained Earnings 919 FBT Total Liabilities and Equity 4240 Taxes (4096) Net Income Per Share Data Common Stock Price Earnings per Share EPS Dividends per Share DPS 8000 -3200 4800 4250 550 - 150 400 - 160 240 16.96 1.6 1.04 The firm operated at full capacity in 2020. It expects sales to increase by 20 percent during 2021 and expects 2021 dividends per shure to increase to 51.10. Use the projected balance sheet method to determine how much outside financing is required, developing the firm's pro forma balance sheet and income statement, and use AFN as the balancing item b. If the firm must maintain a current ratio of 2.3 and a debt ratio of 40 percent, how much financing, after the first pass, will be obtained using notes payable, long- ferm debt, and common stock c. Make the second pass financial statements incorporating financing feedhacks, using the ratios in part b. Assume that the interest rate on debt averages 10 percent. d. Calculate the financial and operating leverage for 2020 and 2021