Begin with the partial model in the file Ch06 P20 Build a Model.xIsx. The partial balance sheets of Britton String are shown here. Britton String Corp.: Partial Balance Sheets as of December 31 (Millions of Dollars) The data has been collected in the Microsoft Excel file below. Download the spreadsheet and perform the required analysis to answer the questions below. Do not round intermediate calculations. Enter your answers in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to the nearest whole number. Use a minus sign to enter negative values, if any. x Download spreadsheet Ch06 P20 Build a Model-f19cd1.xlsx a. Britton String Corp. manufactures specialty strings for musical instruments and tennis racquets. Its most recent sales were $860 million; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $300 million; depreciation amounted to 9% of net fixed assets; interest expenses were $22 million; the state-plus-federal corporate tax rate was 25%; and it paid 40% of its net income out in dividends. Given this information, construct its income statement. Also calculate total dividends and the addition to retained earnings. Britton String Corp.: Income Statement for Year Ending December 31, 2022 (Millions of Dollars) a. Britton String Corp. manufactures specialty strings for musical instruments and tennis racquets. Its most recent sales were $860 million; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $300 million; depreciation amounted to 9% of net fixed assets; interest expenses were $22 million; the state-plus-federal corporate tax rate was 25%; and it paid 40% of its net income out in dividends. Given this information, construct its income statement. Also calculate total dividends and the addition to retained earnings. Britton String Corp.: Income Statement for Year Ending December 31, 2022 (Millions of Dollars) b. Britton issued $44 million of new common stock in the most recent year. Using this information and the results from part a, fill in the missing values for common stock, retained earnings, total common equity, and total liabilities and equity. Britton String Corp.: Partial Balance Sheet as of December 31 (Millions of Dollars) c. Construct the statement of cash flows for 2022. Britton String Corp.: Statement of Cash Flows for 2022 Britton Strina Corn.: Partial Balance Sheets as of December 31 (Millions of Dollars) a. Constructina Britton Strina's income statement Britton Strina: financial information for 2022 Britton Strina Corn.: Income Statement for Year Endina December 31. 2022 (Millions of Dollars) b. Findina the missina values in the balance sheet as of December 31.2022 Common stock issued in 2022 $44 million Britton Strina Corn.: Partial Balance Sheets as of December 31 (Millions of Dollars) Common stock Retained earninas Total common eauitv Total liabilities and equitv c. Constructina the statement of cash flows for 2022 Britton Strina Corn.: Statement of Cash Flows for 2022 Enter text or formula here Britton Strina Corn.: Income Statement for Year Endina December 31. 2022 (Millions of Dollars) b. Findina the missina values in the balance sheet as of December 31. 2022 Common stock issued in 2022 $44 million Britton Strina Corn.: Partial Balance Sheets as of December 31 (Millions of Dollars) Common stock Retained earninas Total common enuitv Total liabilities and equitv c. Constructina the statement of cash flows for 2022