Both questions $1$ & $2$ please.

Question 1 (15 pts) Using the Information below, prepare the following financial statements for Company ABCs 2020 and 2021, er-ee December 32, usi* the formats for basic fmancial staternents shown in the unit 1 Financial Statements videos. 2020 was Company ABCs first year of operating. a) (a I SO Of b) Statement ot Changes in Equity (also called the Statement of Retained Earnings) c) Balance Sheet (also called Statement of Financial Position) Accounts Payable Accounts Receivable Bank Loan, Building, net Common Shares sued Cost of Goods sold (COGS) Depreciation Expense - Depreciation Expense - Truck Tax Expense Interest Expense Inventories Note Note Payable, 6-month Offce Supplies Other noncurrent assets Prepaid Rent Salaries Expense Sales Truck, net Utilities Expense Question 2 (15 pts) 52,000 38, 011' 12s,c 27S,ooo sco.ooo 40, I m 25, oco 20, n 50,000 10, oco 13, n l,cco 75, n 15,000 275 , oc:o 200,000 10, ( m 80,000 16, soo 235.0m 35,000 12S,oco 40 ooo E ooo 39,000 50 ooo 7,500 13,coo 15,000 270,000 175. oco 10 ooo Using Company ABCs Income Statement and Balance Sheet comparative data from Question 1. A. B. C Prepare the following financial ratios: (5 pts) a. Current Ratio b. Quick Ratio c. Debt-to-total assets d. Average collection period e. Return on Equity Complete a vertical analysis ofthe comparative income statement; add two columns, label these columns appropriately, and convert the comparative income statement to percentages, showing vertical analysis (S pts). Explain What the abcn.'e analvsis show: write a brief paragraph commenting on the changes shown in the financial ratios and vertical analysis from these two years. (250-500 (S pts)