Complete the projected Balance Sheet and Income Statement for Metza Metza, Inc. at December 31, 2020, given the following information: (you must show step by step calculations ). Also prepare a Common-size analysis of the Balance Sheet and Income Statement. What was their beginning Retained Earnings (actual) account balance at January 1, 2020 given a planned 40% Dividend Payout on December 31, 2020?

Equity Multiplier 2.0x

Current Ratio 2.5:1

Cash 5.0% of Sales

Quick Asset Ratio 1.3:1

Times Interest Earned 4.0x

Gross Profit Rate 40.0% of Sales

Marginal Tax Rate 50.0%

Operating Expenses $140,000 + 10.0% of Sales

Accounts Receivable Turnover 6.0x

Accounts Payable $60,000.00

Return on Assets 3.75%

Common Stock $100,000.00

Days Accounts Payable Outstanding 60 days

Note: Operating expenses is comprised of both a fixed expense and a variable expense (referred to as a semi-variable expense)