1. Using the a. Recreate the income statement and balance sheet using formulas wherever possible. Each statement should be on a separate worksheet. Try to duplicate the formatting exactly. b. On another worksheet, create a statement of cash flows for 2016 . Do not enter any numbers directly on this worksheet. All formulas should be linked directly to the source on previous worksheets. c. Using Excel's outlining feature, create an outline on the statement of cash flows that, when collapsed, shows only the subtotals for each section. d. Suppose that sales were $400,000 in 2016 rather than $369,300. What is the 2016 net income and retained earnings? e. Undo the changes from part d, and change the tax rate to 35%. What is the 2016 net income and retained earnings? 2. Using the data from the previous problem: a. Create a common-size income statement for 2015 and 2016 . This statement should be created on a separate worksheet with all formulas linked directly to the income statement. b. Create a common-size balance sheet for 2015 and 2016 . This statement should be created on a separate worksheet with all formulas linked directly to the balance sheet. c. Create a common-size statement of cash flows for 2016 that can be switched between using sales and the 2015 cash balance in the denominator