Consider the following simplified Financial Statement Income statement Sales $32,000 Cost of wales 24.400 7,600 Net Income Balance Sheet $1,000 $500 2,000 Cash Accounts Receivables Inventory 5,000 Net Fixed Assets 7,500 Total Assets 15,000 Accounts payables Long term debt 2,000 Equity 12,000 Total abilities and Equities 15,000 2,1XXI Equity 12,000 Inventory 5,000 Net Fixed Assets 7,500 Total Assets 15,000 Total abilities and Iquities 15,000 Required: 11 Create a pratarma Income statement (Asume a 10% growth rate 21 Create a proforma Balance Sheet Assume a 10% who forasters and liabilities) 3) Calculate the following Haties from the wifed financial statements abovel a) Prolit Mateln hy Return on es ch Return on Fiaty d Current Ratio :) Quick Ratio