FIN 3113 Financial Statement Case: Costa Manufacturing Spring 2020 The Excel spreadsheet FIN 3113 Financial Statement Exercise (Spring 2020).xlsx contains the templates for the income statement and balance sheet for Costa Manufacturing. The balance sheet also contains the numbers for 2018. Create the income statement and balance sheet for 2019 for Costa Manufacturing from the following information. Cash Accounts Receivable Accounts Payable Notes Payable Inventory Gross Plant & Equipment Long-term Debt Common Stock Net Sales Cost of Goods Sold Depreciation Expense Other Operating Expenses Interest Expense Income Taxes $500 20% of Net Sales 25% of Cost of Goods Sold $800 $3,000 $22,000 $4,000 $10,000 $10,000 40% of Total Revenue $1,200 $1,000 8% of Long-term Debt 25% of Taxable Income Since I didn't give you retained earnings, you will need to calculate it. Retained earnings will be the amount necessary to balance your balance sheet. Since you know total liabilities and equity must equal total assets, start with total assets, then subtract the liabilities and equity you know. Note that the accumulated depreciation for 2018 was $6,000. a. What is the accumulated depreciation for 2019? b. What is the firm's operating cash flow for 2019? c. If gross plant & equipment for 2018 was $20,000, what is the amount of the net capital spending for 2019 (i.e., Agross fixed assets)? d. If Costa's current assets for 2018 were $4,750 and current liabilities for 2018 were $1,750 what is the change in the net working capital from 2018 to 2019? e. What is Costa's free cash flow for 2019?|