Assume client flows occur just before the end of each month; thus the total dollar amounts at the end of each month include the flows that have just occurred $($that is$,$ before they can be deployed$).$ Please show work in excel. Thank you.

$5.$ Based on standard risk$-$adjustment techniques, are fund managers doing a good job for clients who allocate all their risky assets to the fund $($instead of the Market Portfolio$)?$ And for clients that allocate a very small fraction of their risky assets to the fund $($and the rest in the Market Portfolio$)?($answer just one the four: yes$/$yes$,$ yes$/$no$,$ no$/$yes$,$ no$/$no$)$

$6.$ If an investor put $$100$ in the fund on Dec$-31-12($note this is not the first date$),$ and did not touch that investment over time, how many dollars would the investor have in Dec$-31-14?$