Can you please solve this project. I have provided all the instructions and materials.

Thank you.

Financial Statement Information Err:504 Accounts payable Accounts receivable Depreciation expense Cash Share Capital - common stock Net Sales Notes payable Prepaid expenses $ $ $ $ $ $ $ $ 2016 27,106 100,950 38,000 79,450 100,000 855,000 17,000 14,000 Office Equipment Salaries & Commissions expense Office overhead expenses Supplies Expense Subcontracting expenses Professional Fees Advertising Expenses Misc. Expense Direct Wages and Expenses Common Stock Dividends Accrued Liabilities Accumulated Depreciation Income Tax Expense Opening Retained Earnings 2014 $ $ $ $ $ $ $ $ $ $ $ $ $ 255,500 216,000 6,066 17,100 20,858 9,111 20,460 26,871 342,000 50,000 10,667 159,000 39,634 #REF! Err:504 $ $ $ $ $ $ $ $ 2015 27,106 66,500 38,000 45,000 100,000 675,000 55,000 14,000 $ $ $ $ $ $ $ $ $ $ $ $ $ $ 255,500 180,000 6,066 13,500 19,674 9,111 20,460 26,871 270,000 20,000 10,667 121,000 22,830 18,739 ### Other Information that may be useful for Ratio analysis, CVP Analysis and the 2016 Cash Budg Other Info # of Common Stock Market share price 2016 250000 shares $ 2.90 per share Opening Accounts Receivable 2015 Income tax rate General: Sales: 2015 250000 shares 2.25 per share 2014 250000 Industry ratios have bee provided on ratio tab 76,000 25% 25% Assume for budgeting purposes that the loan was approved and provided to your group January 1, 2017. Average revenue per placement is expected to stay the same for 2017 at $15,000 per placement. However number of placements are expected to increase by 15% in 2017. The strongest months are September and where 16% of the annual business is done each of those months. The slowest months are June, July and December where 4% of the annual business is done in each of those months. The rest of the business is s out evenly over the rest of the months. Collections: Sales are all sold on account. 50% of sales are collected in the month after the sale, 25% in the second mo the sale and 25% in the 3rd month after the sale. Assume all sales are collected (no bad debts). For closin accounts receivable assume 50% will be collected in January and 50% in February. Direct Wages: Direct wages in 2017 are expected to continue to be 40% of sales. LFPA pays their employees semi-monthl that 50% of the wages are paid in the month they are earned and 50% are paid in the month following the m which they are earned. Accrued liabilities at the end of 2016 represents the amount of direct wages that wil in January 2017. Other Expenses: The cost behaviour for all expenses is expected to remain the same for 2017 as they were for 2016 and 201 that some of these expenses are fixed in nature, some are variable and some are mixed. In addition, assum these expenses are paid in the month they are incurred (other than the payment pattern for direct wages wh described above). Fixed expenses should be allocated evenly over the 12 months, variable expenses will v month based on sales. Mixed expenses need to be separated into their fixed and variable components and allocated accordingly. Income tax expense is calculated as net income before taxes (revenue minus expens times the income tax rate. For the 2017 cash budget assume that the estimated income tax expense for 20 be paid in 12 equal monthly instalments. Dividends: Financing: Equipment: Your group expects to pay out dividends of $15,000 to each owner (5 group members=5 owners, 6 group members=6 owners). Dividends are expected to be paid out in July 2017. For the purpose of the budget assume the interest rate negotiated on the $500,000 loan is 5% is payable m and should be considered a fixed expense for 2017. In addition there are no payments to pay down the loa 2017. Loan principal payments are to start in 2018 at an amount of $8,500 per month. Assume that the no payable balance at the end of 2016 will be paid off in January 2017 using money received from the loan (so will be no interest expense related to the note payable going forward). In December of 2017 LFPA is expecting to replace some computer equipment in the office and invest in new software. The expected cost is $75000. Assume it will be paid in cash when purchased and there will be no to the depreciation expense in 2017. nd the 2016 Cash Budget shares Industry ratios have been provided on ratio tab ur group January 1, 2017. 00 per placement. However the months are September and March months are June, July and The rest of the business is spread sale, 25% in the second month after d (no bad debts). For closing 2015 ary. heir employees semi-monthly such in the month following the month in ount of direct wages that will be paid they were for 2016 and 2015. Note re mixed. In addition, assume that t pattern for direct wages which is ths, variable expenses will vary each d variable components and then axes (revenue minus expenses) d income tax expense for 2017 will mbers=5 owners, 6 group 000 loan is 5% is payable monthly yments to pay down the loan in month. Assume that the note y received from the loan (so there n the office and invest in new HR rchased and there will be no change Leap Forward Placement Agency Income Statement For the Year Ended December 31st 2016 2015 2017 (projected) Err:504 Leap Forward Placement Agency Statement of Retained Earnings For the Year Ended December 31st 2016 2015 Leap Forward Placement Agency Balance Sheet As At December 31st 2016 2015 Err:504 Current Ratio Quick Ratio Gross Margin Return on Shareholders Equity Receivable Turnover Average Collection Period Earnings Per Share Dividend Yield P/E Ratio Debt to Equity Ratio Return on Assets 2016 2015 Industry 2.67 2.40 46.5% 27% 5.89 62.0 $1.25 4.0% 6.20 1.30 11.7% Err:504 Leap Forward Placement Agency Breakeven and Target Profit Calculations (show your work) Variable expenses per placement Fixed Expenses in total Annual Breakeven in placements sold Annual Breakeven in $ # of Placements for after tax target profit of $ 200,000 # of Placements for after tax target profit of $ 400,000 # of Placements for after tax target proift of $ 600,000 10% increase in sales for 2017 will mean what % increase in 2017 net income (before taxes) ns 2017 projected 2017 Month % sold each month ==> Opening Cash Balance Inflows Collections current month Collections first month Collections second month Collections third month Total Inflows Outflows Payment current payment 1st month Total Outflows Net Cash Flow Cash Balance January February March April May Leap Forward Placement Agency June July August Sept Oct Nov Dec Total 0% Winter 2017 FINA 6014 Managerial Accounting Group Project Introduction and Objectives The objectives of the project assignment are for students to: Demonstrate their understanding of, and ability to apply concepts covered and learned in the course to a human resources business context. Work as a group (of minimum 4 to maximum 5 students) towards a common goal. The student group setting is expected to replicate the \"real world\" as many decisions are made either by a group, committee or with input from advisory support services. Groups will be determined by the professor. Improve written business communication skills. Group Project Course Value The Group Project is worth 25% of the total course grade. Required You and your colleagues have just purchased the Leap Forward Placement Agency (LFPA). You own 100% of the shares of LFPA. To provide your company with some financial flexibility you are approaching a bank for a bank loan of $500,000. Accordingly you need to prepare a financial information package for the bank that includes: 1. A balance sheet, income statement and statement of retained earnings for LFPA for 2015 and 2016. When you purchased LFPA, you were provided with the financial data but it is disorganized and has not been put into financial statement format. 2. A financial statement analysis of the 2015 and 2016 data complete with a horizontal analysis, a vertical analysis and the appropriate financial statement ratios. Some ratios from the placement and recruiting industry have been supplied. 3. A cash budget and projected income statement for 2017 for LFPA. To assist with this you may wish to prepare additional supporting schedules like a sales budget, a cash receipts budget, a direct wages budget and a cash disbursements budget 4. A cost volume profit analysis for 2017 that identifies a. which expenses are fixed and which expenses are variable - note some expenses are mixed and therefore need to be split into their variable and fixed components, b. the breakeven point in number of placements and dollars c. the number of placements that are required to be sold to generate an after tax profit of $200,000, of $400,000 and of $600,000. Assume a tax rate of 25%. d. If sales in 2018 are projected to increase by 10% from 2017 what will the percentage increase in income before taxes from 2017 to 2018 be? 5. A qualitative report that includes: Page 1 a. An executive summary of your financial package for the bank manager with an overview of the information/analysis that you supplied, key highlights from your analysis and a conclusion on why the bank should grant you the loan. Make sure you are presenting the information with your objective in mind (you want the bank to give you a loan). b. A qualitative interpretation of each type of analysis done - what does the analysis tell you and how does it help or hinder LFPA from being a good applicant for the loan. 6. A presentation to the bank manager (your classmates will act as the bank manager and listen to and evaluate your presentation. Summary of Information Provided Each group has been given an excel spreadsheet that includes: a) A tab with project data - financial statement data, additional data for ratio calculations, CVP analysis and budget preparation. Note that each groups' financial data is slightly different. b) Tabs for each of the financial statements you need to create c) A tab for you to do your ratio calculations in d) A tab for you to do your CVP analysis in e) A tab for your cash budget (with some examples of headings/descriptions) You may insert additional tabs if you wish to do so. Project Deliverables and Due Dates No 1. 2. 3. Item Submit a signed group work agreement that includes who is doing what, by what date and what group expectations are with respect to communication, conflict resolution Submit: 1) Project Report; 2) Excel spreadsheet used to do the quantitative analysis Submit: 1) Group Presentation 2) Confidential Peer review worksheets - emailed individually. Due Date Sunday February 19th, 2017 Comments To be submitted in your group's FOL dropbox folder by 11:59pm Sunday February 19th, 2017. Initial (Template provided on FOL for Group Agreement document) Sunday April 9th, 2017 Project Report and Excel Spreadsheet in the FOL Dropbox folder by 11:59pm Friday, April 9th, 2017 Friday April 14th, 2017 Evaluation to be submitted in the Electronic Dropbox folder by 11:59pm Friday April 14, 2017 Confidential Peer Review submitted to the Confidential Peer Review dropbox by 11:59pm Friday April 14th, 2017 Note: No late assignments will be accepted. (Extensions may be considered in keeping with College policies.) Project Evaluation Weight Project Component Details /5 Group Agreement Submission of Group work agreement by February 19th, 2017. / 10 Organization, Style and Mechanics Development of a comprehensive report, well ordered with logical flow of information and significant attention given to the mechanics of writing. Consideration will be given to language used to convey information and the number of grammatical and /or spelling errors; Does the report include a title page, table of contents, reference to appendices, exhibits and/or explanations of tables, graphs / 15 Executive Summary Must include: Objective of report, outline of information enclosed / summary of the work conducted, key highlights and conclusions reached. /10 Financial Statement preparation Are the financial statements complete? Does the formatting represent typical industry reporting? /15 Financial Analysis Complete with: a) Horizontal analysis b) Vertical analysis c) Ratio analysis - appropriate ratios for situation. Minimum 6 ratios used. d) Interpretation for each type of analysis. Understanding of the impact of the loan on the financial ratios going forward / 15 Budget Preparation Completion of the cash budget, any required supporting budgets and a qualitative overview of the results. Include calculations (formula embedded in excel cells preferred) for part marks. /10 Cost-Volume-Profit Analysis Proper identification of variable costs, fixed costs and translating mixed costs into their variable and fixed components. Analyzing the required targets and providing a qualitative summary that reflects an understanding of the results. Include calculations (formula embedded in excel cells preferred) for part marks. /10 Group Presentation Peer reviewed with prof, Using professor supplied student rubric as a guide / 10 Confidential Peer Review Group Participation* (see details below) (Your opportunity to demonstrate that you truly understand the task at hand and the role you are fulfilling). 100 Project Total Peer Review *Group Participation All students MUST complete a peer review and evaluation. Consider the following questions in completing the evaluation: 1. How did each person make a contribution to your group project? (i.e., research, specific actions, content, etc...) 2. Do you feel that there was an appropriate level of contribution from all team members? 3. Do you feel that you learned from the group assignment and from collaborating with your group members? How? 4. Any additional thoughts that would help you to fairly allocate participation marks? 5. What mark out of ten would you rate yourself? 6. What mark out of ten would you give to each team mate? If inequity exists, explain why and how you communicated failings to that/those particular group member(s). 7. Please use the Peer Review sheet provided below for this exercise. Note that if your scores are different amongst team members you need to share why using the questions above. PLEASE ensure that you provide your peer review form via confidential peer review dropbox. Due date is Friday April 14th, 2017 Peer review participation form* Group Number/Section: _________________________________________________ Submitted by: ____________________________________________________ Yourself Student 2 Student 3 Student 4 Student 5 Group Member Name Group Member Score /10 /10 /10 *(One participation form is completed per each group member) /10 /10 Peer evaluations should be prepared independently and are considered confidential. If a student does not complete a peer review/group participation form they will receive zero for group participation