Gerrard Construction Company is an excavation contractor. The following summarized data $($in thousands$)$ are taken from the December $31,2022,$ financial statements:For the Year Ended December $31,2022$: Net revenues$ $30,400$Cost of services provided$11,100$Depreciation expense$6,000$Operating income$ $13,300$Interest expense$3,400$Income tax expense$3,300$Net income$ $6,600$At December $31,2022$: Assets Cash and short$-$term investments$ $3,500$Accounts receivable, net$10,400$Property, plant, and equipment, net$78,400$Total assets$ $92,300$Liabilities and Stockholders' Equity Accounts payable$ $1,700$Income taxes payable$1,100$Notes payable $($long term$)48,200$Paid$-$in capital$12,000$Retained earnings$29,300$Total liabilities and stockholders' equity$ $92,300$At December $31,2021,$ total assets were $$80,100$ and total stockholders' equity was $$35,500.$ There were no changes in notes payable or paid$-$in capital during $2022.$Required:The table above represents income statement and balance sheet for Gerrard Construction Company. Other than these statements, what other financial statements are required?Indicate the note disclosures that should be provided by Gerrard Construction Company.Assume that the balance of "Accounts Receivable, net" at December $31,2021,$ was $$8,200.$ Calculate the following activity measures for Gerrard Construction Company for the year ended December $31,2022$:Accounts receivable turnover.Number of days' sales in accounts receivable.Calculate the following financial leverage measures for Gerrard Construction Company at December $31,2022$:Debt ratio.Debt$/$equity ratio.Gerrard Construction Company wishes to lease some new earthmoving equipment from Caterpillar on a long$-$term basis. What impact $($increase$,$ decrease, or no effect$)$ would a capital lease of $4\mathrm{.}5$ million have on the company's debt ratio and debt$/$equity ratio?Calculate the amount of dividends declared and paid during the year ended December $31,2022.$Review the answer from requirement f$1$ at this time. Assume that Gerrard Construction Company had $1,111,000$ shares of $$1$ par value common stock outstanding throughout $2022,$ and that the market price per share of common stock at December $31,2022,$ was $$18\mathrm{.}75.$ Calculate the following profitability measures for the year ended December $31,2022$:Earnings per share of common stock.Price$/$earnings ratio.Dividend yield.Dividend payout ratio.