Bradburn Corporation was formed $5$ years ago through a public subscription of common stock. Daniel Brown, who owns $15\%$ of the common stock, was one of the organizers of Bradburn and is the current president. The company has been successful, but it currently is experiencing a shortage of funds. On June $10,2014,$ Daniel Brown approached the Topeka National Bank, asking for a $24-$month extension on two $$35,000$ notes, which are due on June $30,2015,$ and September $30,2015.$ Another note of $$6,000$ is due on March $31,2016,$ but the company anticipates no difficulty in paying this note on its due date. Brown explained that Bradburn$$s cash$-$flow problems are due primarily to the company$$s desire to finance a $$300,000$ plant expansion over the next $2$ fiscal years through internally generated funds.

The commercial loan officer of Topeka National Bank requested the financial reports $($balance sheet and income statement$)$ for the last $2$ fiscal years. See the Excel template for these reports.

Using this Excel template, provide the following information. Be sure to include formulas for the cells that are labeled formulas. Be sure all amounts are linked to the proper cells:

Compute the following items for Bradburn Corporation:

$1.$Current ratio for fiscal years $2014$ and $2015.$

$2.$ Acid$-$test $($quick$)$ ratio for fiscal years $2014$ and $2015.$

$3.$ Inventory turnover for fiscal year $2015.$

$4.$ Return on assets for fiscal years $2014$ and $2015.($Assume total assets were $$1,688,500$ at $3/31/13.)$

$5.$ Percentage change in sales, cost of goods sold, gross margin, and net income after taxes from fiscal year $2014$ to $2015.$

$6.$ Identify and explain what other financial reports and$/$or financial analyses might be helpful to the commercial loan officer of Topeka National Bank in evaluating Daniel Brown$$s request for a time extension on Bradburn$$s notes.

$7.$ Assume that the percentage changes experienced in fiscal year $2015$ as compared with fiscal year $2014$ for sales and cost of goods sold will be repeated in each of the next $2$ years. Is Bradburn$$s desire to finance the plant expansion from internally generated funds realistic? Discuss.