A B Big Rock Candy Mountain Mining Co. Income Statements For the Years 2019 and 2020 1 2 3 4 5 Sales 6 Cost of Goods 7 Gross Profit 8 Depreciation 9 Selling & Admin. Expense 10 Other Operating Expense 11 Net Operating Income 12 Interest Expense Earnings Before Taxes 14 Taxes 15 345678 Net Income 7 Notes: 9 Tax Rate Shares Earnings per Share 234 8 9 2020 C D E 2019 Week 1 Assignment: Chapter 2 Problem #2 Requirement: Assignment You will complete most of your weekly assignments using Excel. These assignments will reference the concepts learned from your text, from your chapter PowerPoints, and other videos provided for you to view. Please be sure to review the chapter PowerPoints before beginning your assignments. Topic: Using the information provided in Chapter 2 Problem #2, complete parts "a" through "c" using the provided Excel template below. Chapter 2 Problem #2 Student Name Template.xls Graded Activity: 1. Read Chapters 1 and 2 of your text. 2. Review the PowerPoint for Chapters 1 and 2 and any related videos provided for the week. 3. Complete Week 1 Assignment: Chapter 2 Problem #2. Please click on the title link above labeled "Week 1 Assignment: Chapter 2 Problem #2" to enter and submit your work. Big Rock Candy Mountain Mining Co. Statement of Cash Flows For the Year Ended December 31, 2020 % of Sales Cash Flows from Operations Net Income Depreciation Expense Change in Marketable Securities Change in Accounts Receivable Change in Inventory Change in Accounts Payable Change in Accrued Expenses Total Cash Flows from Operations Cash Flows from Investing Change in Gross Fixed Assets Total Cash Flows from Investing Cash Flows from Financing Change in Long-term Debt Change in Common Stock ($2 par) Change in Additional Paid-in-Capital Total Cash Flows from Financing Net Change in Cash Balance Assets Big Rock Candy Mountain Mining Co. Common-size Balance Sheet For the Year Ended December 31, 2020 2020 Cash Marketable Securities Accounts Receivable Inventory Total Current Assets Gross Fixed Assets Accumulated Depreciation Net Plant & Equipment Total Assets Liabilities & Owner's Equity Accounts Payable Accrued Expenses Total Current Liabilities Long-term Debt Total Liabilities Common Stock ($2 par) Additional Paid-in-Capital Retained Earnings Total Owner's Equity Total Liab. & Owner's Equity 2019 a. b. 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. On another worksheet, create a statement of cash flows for 2020. 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 $425,000 in 2020 rather than $412,500. What is the 2020 net income and retained earnings? e. Undo the changes from part d, and change the tax rate to 20%. What is the 2020 net income and retained earnings