Excel Activity: Forecasting Financial Statements Start with the partial model in the file Ch09 P10 Build a Model.xlsx, which contams the 2021 financial statements of Zieber Corporation. Forecast Zieber's 2022 income statement and balance sheets. Use the following assumptions: (1) Sales grow by 7%. (2) The ratios of expenses to sales, depreciation to fixed assets, cash to sales, accounts receivable to sales, inventories to sales, fond assets to sales, accounts payable to sales, and accruals to sales will be the same in 2022 as in 2021. (3) Zieber will not issue any new stock or new long-term bonds, (4) The interest rate is 11% for long-term debt, and the interest expense on long-term debt is based on the average balance during the year. (5) No interest is earned on cash (6) Regular dividends grow at an 8% rate (7) The tax rate is 25%. Calculate the additional funds needed (AFN). If new financing is required, assume it will be raised by drawing on a line of credit with an interest rate of 12%. Assume that any draw on the line of crede will be made on the last day of the year, so there will be no additional interest expense for the new line of credit, I surplus funds are available, pay a special dividend The data has been collected in the Microsoft Excel file below, Download the spreadsheet and perform the required analysis to answer the questions below. Do not round witermediate calculations. Enter your answers in thousands. For example, an answer of $1.23 thousand should be entered as 1.23, not 1,230. Round your answers to two decimal places. If your answer is zero, enter "0" Download spreadsheet Ch09 P10 Build a Model 78007.xlsx a. What are the foreciseted levels of the line of credit and special dedends) (ints: Create a column showing the ratios for the current year; then create a new column showing the ratios used n the forecast. Also, create a preliminary forecast that doesn't include any new line of credit or special dividends. Identify the financing defiot or surplus in this preliminary forecast and then Q add a new coluers that shows the final forecast that indudes any new line of crede or special dividend.) Required line of credit Special dividends thousand thousand