Assets Cash Prepaid Expenses Trade Receivables Inventories Property, Plant 2 CompuTech Income Statement 3 December 31, 2021 4 Sales Revenue S 360,000 3 6 Cost of Goods Sold 7 RM Purchases: $ 132,000 8 9 Gross Profit $ 228,000 TO 11 Operating Expenses 12 Sales Salaries: 80,000 13 Advertising: 3,000 14 Travel: 2,000 5 Admin Salary 40,000 6 Office Lease: 13,000 Depreciation: 38,000 Total Operating Expenses $ 176,000 02 CompuTech's Balance Sheet December 31, 2021 abilities $15,000 Short Term Loan 5,000 Current Payables 35,000 Long Term Liabilities 50,000 Yearly LTD Retiremen 170,000 Share Capital Retained Earnings Accumulated Deprecia $275,000 Total Liabilities 30,000 17,000 60,000 5,000 100,000 25,000 38,000 275,000 Total Assets Operating Profit $ 52,000 Other Income/Expenses Financing Costs: 10,000 Income Before Taxes 42,000 Income Taxes $ 22,000 Net Income $ 20,000 Reflecting upon the first Balance Sheet and the Income Statement that you prepared in Module 2 of the Case: Q1: What is the company's expected Current Asset level? What is the company's Net Property & Plant level? 02: Looking at your 2021 Income Statement and Balance Sheet from Module 2 what is the projected CompuTech average outstanding Accounts Receivables? What is the company's Inventory Turnover rate? Q3: If the company wished to exhibit a 30 day receivable average, what should their level of Accounts Receivable become? If they were able to invest the savings at 7% what would their impact on profits be? Q4: If CompuTech's competition is experiencing a 6 X turnover on inventory, is CompuTech matching this performance, and if not what level of inventory should they be displaying