2. Financial Statement Analysis: Complete financial statements and calculate ratios, (15 points) Assume we have two companies that are exactly alike in all ways, except one has debt and equity, and the other just has equity (no debo). We will call the one without the debt unleveraged (U) and the one w the debt we will call leveraged (L.). We will look at the income stateme nt under the different expected plete the financial statements, then calculate the following ratios for each For each firm, first com scenario: ROE, ROA, ROI, ROIC, Fixed Asset Turnover, Total Asset Turnover, Operating Profit Margin, and Net Income Margin. First, let's look at the balance sheet and income state of Firm U Liabilities &Owner's Equity Assets Current Assets $500 Fixed AssetsS Total Assets $1000 Debt Equity Total L&OE S S1000 Firm ULIS Revenue 150 $100 $75 $10 45 60 Oper Costs Fixed Variable 40 30 20 Operating Income (EBIT) $495 Interest (i-10%) Earnings before taxes (EBT) Taxes (1.40%) Net Income (NI) Now, let's take a look at Firm L, which has debt. Firm L B/S Liabilities & Owner's Equity Debt Assets Current Assets $ 500 Fixed Assets $ Total Assets$1000Total L&OE S Equity S 500