Here is the rest of the challenge

Safari . bill 1:47 PM C6-Student-Template AD Q . . . fx V O B C D E G TASK #4 FINANCIAL STATEMENTS, YEAR 5 High-End Lifts, Inc. Income Statement December 31. Year 5 $ % Sales Revenue #DIV/O! C6 = Task #1 OB G9 Cost of Goods Sold #DIV/O! C7 = Task #1 OB G15 Gross Margin #DIV/O! SG&A Expense #DIV/O! C9 = Task #1 OB G63 Operating Income #DIV/O! Interest Expense #DIV/O! C11 = Task #1 OB G69 Earnings Before Taxes #DIV/O! Ck: C12 = $15,978,919 Income Tax Expense, 25% #DIV/O! C13 = 25% of EBT Net Income #DIV/O! Ck: D14 = 23.8% High-End Lifts, Inc. Balance Sheet December 31. Year 5 Assets $ % Current Assets Cash 2.9% C21 = Task #3 FB C48 A/R 41.5% C22 = -Task #3 FB C6 (make sure answer is positive) Supplies 3.0% C23 = INFO BS Year 4 C9 - Task #3 FB C24 Raw Materials Inventory 2.9% C24 = Task #1 OB G30 Work-in-Process Inventory 3.2% C25 = INFO BS Year 4 C11 (no change in account) Finished Goods Inventory 18.0% C26 = done for you (study formula) Prepaid Insurance 0.9% C27 = INFO BS Year 4 C13 - Task #3 FB C25 Total Current Assets 72.4% 1,413,804 PP&E (SG&A Computers & Network (5 yr. life) 0.9% C30 = INFO BS Year 4 C16 + Task #2 CE C5 Furniture & Fixtures (10 yr. life) 1.0% C31 = INFO BS Year 4 C17 + Task #2 CE C6 Office Equipment (5 yr. life) 0.5% C32 = INFO BS Year 4 C18 + Task #2 CE C7 Vehicles (5 yr. 2.9% C33 = INFO BS Year 4 C19 + Task #2 CE C8 PP&E (Production) Land 1.4% C35 = INFO BS Year 4 C21 + Task #2 CE C10 Buildings 14.9% C36 = INFO BS Year 4 C22 + Task #2 CE C11 Furniture & Fixtures (10 yr. life) 0.2% CAD Computers, Network (5 yr. life) 0.9% C37 = INFO BS Year 4 C23 + Task #2 CE C12 Machinery (15 yr. life) 6.8% C38 = INFO BS Year 4 C24 + Task #2 CE C13 Forklift (10 yr. life) 1.7% C39 = INFO BS Year 4 C25 + Task #2 CE C14 A/D Depreciation 3.5% C40 = INFO BS Year 4 C26 + Task #2 CE C15 Total PP&E 27.6% C41 = INFO PP&E F18 (make sure it's negative) Total Assets 100.0% C43 Ck = $14,148,008 Liabilities Current Liabilities Accounts Payable 13.5% C46 = Task #4 FB C13 Wages Payable 1.2% C47 = INFO BS Year 4 C33 + Task #4 FB C26 Interest Payable 7,975 0.0% C48 = GIVEN; study formula Income Taxes Payable 1.9% C49 = INFO BS Year 4 C35 + Task #4 FB C28 Unearned Revenue 1.3% C50 = INFO BS Year 4 C36 + Task #4 FB C29 Current Portion of LT Notes Payable 0.2% C51 = INFO BS Year 4 C37 + Task #4 FB C30 Total Current Liabilities 7,975 18.2% C52 = Ck = $1,715,05 Notes Payable 936,113 0.6% C54 = Ck = $2,651,169 Total Liabilities 944,088 18.8% Stockholders' Equity Common Stock 4.9% C56 = INFO BS Year 4 C42 Retained Earnings 76.3% C57 = INFO BS Year 4 C43+ Task #5 FS C14 + Task #4 FB C45 Total Equity 81.2% Total Liabilities & Stockholders' Equity 944.088 100.0% C59 Ck = $14,148,008 60 (944,088) 62 63 65 66 67 68 69 70 71 73 75 76 77 Task #3 FB Task #4 FS INFO BS Yea +Safari . 1:47 PM C6-Student-Template AD Q . . . fx C D E G H TASK #3 FINANCIAL BUDGET, YEAR 5 DIRECTIONS: Complete the spreadsheet and then go to Bb to JOUTOWN Cash Receipts Budget complete the assignment in multiple choice format. ear 5 ales Revenue C4 = Task #1 OB G9 dd: Year 4 A/R Balance Collected in Year 5 C5 = INFO BS Year 4 C8 ess: Year 5 Credit Sales Not Collected Yet, assume 45 days A/R Balance C6 = (-C4/365) x 45 total Cash Receipts from Sales 9 Cash Disbursements Budget 10 ear 5