Create a Financial Analysis for What SUP, Inc. as of December 31, 2020. You are to create What SUP's financial analysis as of December 31, 2020, from the information found on file ch3-03.xls. This file contains three worksheets, which are labeled Income Statement, Balance Sheet, and Ratios. Following the Chapter 3 examples, create a vertical analysis of both the income statement and balance sheet for December 31, 2020, only. Then create a horizontal analysis of both the income statement and balance sheet. (Note: The horizontal analysis will compare December 31, 2019. with December 31, 2020.) In addition, create a pie chart of expenses for the year ended December 31, 2020; a column chart (in a format of your choice) of expenses for the years ended December 31, 2019, and 2020; and a ratio analysis as of December 31, 2020. Save the file as ch3-03_student_name.xls (replacing student_name with your name). Print each completed worksheet in Value view, with your name and date printed in the lower left footer and the file name in the lower right footer. E F % Change B D What SUP, Inc. Income Statement For the Year Ended 4 5 12/31/19 12/31/20 % of Sales 6 Sales Revenue $950,000.00 $ 1,300,000.00 7 Less: Cost of Goods Sold 500,000.00 800,000.00 8 Gross Margin 450,000.00 500,000.00 9 Expenses: 10 Advertising 30,000.00 45,000.00 11 Depreciation 25,000.00 28,000.00 12 Interest 50,000.00 22,000.00 13 Other 15,000.00 17,000.00 14 Payroll 160,000.00 190,000.00 15 Utilities 35,000.00 40,000.00 16 Net income before taxes 135,000.00 158,000.00 17 Income taxes 30,000.00 40,000.00 18 Net income $ 105,000.00 $ 118,000.00 19 20 21 22 23 Income Statement Balance Sheet Ratios B E F % Change D What SUP, Inc. 2 Balance Sheet 3 as of 4 5 Assets 12/31/19 12/31/20 % of Assets 6 Current Assets: 7 Cash $ 35,000.00 $ 25,000.00 8 Accounts Receivable 60,000.00 65,000.00 9 Inventory 115,000.00 140,000.00 10 Prepaid Expenses 10,000.00 8,000.00 11 Supplies 8,000.00 7,000.00 12 Property, Plant, and Equipment: 13 Land 120,000.00 120,000.00 14 Building 300,000.00 300,000.00 15 Equipment 67,000.00 93,000.00 16 Less: Accumulated Depreciation (115,000.00) (143,000.00) 17 Total $600,000.00 $615,000.00 18 19 Liabilities and Stockholders' Equity 20 Liabilities 21 Current Liabilities: 22 Accounts Payable $ 52,000.00 $ 40,000.00 22 Panteoll Labilities 0.157.26 114572 Income Statement Balance Sheet Ratios (115,000.00) (143,000.00) $600,000.00 $615,000.00 16 Less: Accumulated Depreciation 17 Total 18 19 Liabilities and Stockholders' Equity 20 Liabilities 21 Current Liabilities: 22 Accounts Payable 23 Payroll Liabilities 24 Long Term Debt 25 Stockholders' Equity 26 Common Stock 27 Retained Earnings 28 Total 29 $ 52,000.00 $ 40,000.00 8,457.36 11,457.36 150,000.00 56,000.00 10,000.00 10,000.00 379,542.64 497,542.64 $600,000.00 $615,000.00 30 31 32 33 34 35 36 37 20 Income Statement Balance Sheet Ratios 1 What SUP, Inc. 2 Ratio Analysis 3 Ratio Analysis 2020 4 5 Profitability 6 Return on owners' investment 7 Return on total investment 8 Profit margin 9 Gross margin 10 11 12 13 Liquidity 14 Current ratio 15 Quick ratio 16 Receivable turnover 17 Inventory turnover 18 19 20 Solvency 21 Debt-to-equity 22 Liability 23 24 25 26 Income Statement Balance Sheet Ratios Ready Calculate