complete the spreadsheet with calculations and explanations. and possible questions

ASSUMPTIONS \begin{tabular}{|c|c|c|c|c|} \hline & & 2022e & 2023e & 2024e \\ \hline Sales growth & & 10% & 10% & 5% \\ \hline Gross margin is the same & & 42% & 42% & 42% \\ \hline cogs & & 58% & 58% & 58% \\ \hline Accounts receivable is the same proportion of sales in 2021 & & 8.14% & 8% & 8% \\ \hline Inventory is the same proportion of COGS in 2021 & & 31% & 31% & 31% \\ \hline Reduce notes payable by $60 & $ & (60,00)$ & $ & - \\ \hline Maintain the same amount of long-term debt & & $457.00 & $457.00 & $457.00 \\ \hline Depreciate NP\&E with the same amount & & $276.00 & $276.00 & $276.00 \\ \hline Tax rate will be & & 21% & 21% & 21% \\ \hline Interest rate will be & & 8% & 8% & 8% \\ \hline Payout ratio & & 33% & 33% & 33% \\ \hline Accounts payable is the same proportion of COGS in 2021 & & 26% & 26% & 26% \\ \hline \# of shares & & 8,000 & 8,000 & 8,000 \\ \hline WACC, see below & & & & \\ \hline \end{tabular} BALANCE SHEET \begin{tabular}{|c|c|c|c|c|c|} \hline Assets & 2020a & 2021a & 2022e & 2023e & 2024e \\ \hline \multicolumn{6}{|l|}{ Current assets } \\ \hline Cash & $84.00 & $146.00 & & & \\ \hline Accounts receivable & $165,00 & $188.00 & & & \\ \hline Inventory & $393.00 & $422.00 & & & \\ \hline Total & $642.00 & $756.00 & & & \\ \hline \multicolumn{6}{|l|}{ Fixed assets } \\ \hline Net plant and equipment & $2,731,00 & $2,880.00 & & & \\ \hline Total assets & $3,373.00 & $3,636.00 & & & \\ \hline \multicolumn{6}{|c|}{\begin{tabular}{l} Liabilities and Owners' Equity \\ Current liabilities \end{tabular}} \\ \hline \multicolumn{6}{|l|}{ Current liabilities } \\ \hline Accounts payable & $312.00 & $344,00 & & & \\ \hline Notes payable & $231.00 & $196.00 & & & \\ \hline Total & $543.00 & $540.00 & & & \\ \hline Long-term debt & $531.00 & $457.00 & & & \\ \hline \multicolumn{6}{|l|}{ Owners' equity } \\ \hline Common stock and paid-in surplus & $500.00 & $550.00 & & & \\ \hline Retained earnings & $1,799.00 & $2,089.00 & & & \\ \hline Total & $2,299.00 & $2,639.00 & & & \\ \hline Total liabilities and owners' equity & $3,373.00 & $3,636.00 & & & \\ \hline Control & & & $0.00 & $0.00 & $0.00 \\ \hline \end{tabular} INCOME STATEMENT CASH FLOW STATEMENT Terminal Value Expected UFCF perpetual growth rate Expected UFCF 2025 Expected WACC Terminal value Valuation \begin{tabular}{|l|l|l|} \hline Present value of UFCF & 2022e & 2023e \\ \hline Present value of TV & 2024e \\ Enterprise value & \\ Debt & \\ Equity & \\ \hline \end{tabular} Share value Actual accounting value Capital increase/upside Value per share