I need help putting together the balance sheet with the following info and answering the questions I will put below.

NOTE:If you cannot get your balance sheet to balance, add a line item in the appropriate section titled "Plug" for the amount needed.

Presented on the template provided is Crossley's projected balance sheet at 12/31/20.Prepare a budgeted balance sheet at 12/31/21 next to it, then answer the following questions in the space below your balance sheets.Label your answers, but the amounts themselves should be calculated by formulas that include cell references:

• What is the budgeted return on investment (round your answer to the nearest one percent)?
• If the company has established a minimum required rate of return of 22% for Crossley, what is budgeted residual income (round your answer to the nearest dollar)?
• If the CEO of Crossley has set a target ROI of 28%, how many units would the company have to sell for the year (round your answer to the nearest whole unit)?

CROSSLEY COMPANY BALANCE SHEET AT DECEMBER 31 2021 2020 ASSETS Cash 1035035 1625000 Accounts receivable 42,840,000 3089380 Inventory Raw materials 10,200,000 27500 Finished goods 481800 756800 Property. plant and equipment, net 2039555 Total Assets 8380515 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable 2800000 Commissions payable 187425 Note payable 1500000 Common stock, no par 2450000 Retained earnings 1653090 Total Liabilities and Stockholders' Equity 8390515 + Operating Budgets * 1 Income Statement * Cash Budget * Balance Sheet .CASH BUDGET YEAR ENDED DECEMBER 31, 2021 QTR 1 QTR 2 QTR 3 QTR 4 2021 Cash Receipts-operating: 5589200 8353800 9748100 4178900 27848000 Current quarter Previous quarter 3089380 2098800 4498200 6247900 15814280 Total cash collections 8638580 11352600 14244300 9424800 43880280 10 11 Cash payments-operating: 12 Materials purchases 2800000 2385850 3149250 3104370 11219270 13 Labor 2347920 3559880 3835280 1751544 11294824 14 Variable overhead 585280 2238920 2423520 1187896 7398416 15 Variable sales commissions 187425 289880 449820 624790 1481915 Fixed overhead 524000 524000 524000 624000 2098000 17 Fixed selling 850000 850000 850000 850000 3400000 Fixed admin 980000 980000 980000 980000 3920000 3054825 10819330 12011870 4078-8225 19 Total operating payments 8902400 20 Total cash provided 2872035 Cash 21 used by operations 418085 533270 2232430 522400 2:2 Other payments/receipts: 23 Capital expenditure 1950000 1950000 24 Dividends -250000 -250000 250000 -250000 -1000000 25 Note payment (p&/) 0 -280000 252000 512000 26 Total cash provided/used 888085 23270 32430 20400 -580965 27 Add: beginning cash balance 1825000 958935 982205 1014835 1625000 opening balance cash Ending cash balance 958935 982205 1014835 1035035 1035035 closing balance cash 29 30 32 38 34 35 37 Operating Budgets * 1 Income Statement Cash Budget * Balance SheetCROSSLEY COMPANY INCOME STATEMENT ECEMBER 31, 2021 QTR 1 TR 2 QTR QTR 4 YEAR Sales revenue 8.568,000 12,852,000 14.994.000 6,426,000 42,840,000 (Note: taken from Budgeted Revenue in Operating Budgets tab) LESS: Variable costs Direct materials 2.040.000 3.060,000 3,570.000 1.530.000 10,200,000 (Note: Budgeted sales units * 10 ft. per unit * $5 per unit) 10 Direct labor 2.347.920 3.559.880 3.635.280 1.751,544 11,294,624 11 Variable overhead 1,565.280 2.239.820 2.423.520 1.167.696 7,396,416 12 Variable selling 299.880 449.820 524.790 224.910 1,499,400 13 Total variable costs 6.253,080 9.309.620 10. 153.590 4.874,150 30,390,440 14 Contribution margin 2.314.920 3.542 380 4.840.410 1,751.850 12,449,560 15 LESS: Fixed costs 16 Fixed overhead-depreciation 20.000 90.00 122.500 122.500 425,000 (taken from operating budgets tab) 17 Fixed overhead-othe 524,000 524.000 524,00 624.000 ,096,000 13 Fixed selling-depreciation 75.000 75.000 75.000 75,000 300,000 19 Fixed selling-other 850.000 850,000 850.000 850,000 3,400,000 20 Fixed admin-depreciation 120.000 120.000 120.000 120,00 480,000 21 Fixed admin-other 980.000 980.000 980.000 980.000 8,920,000 22 Total fixed costs .639,000 2.639.000 2.671.500 2.871,500 10,621,000 23 Operating income (324,080) 903.380 2.168.910 (919.650) 1, 828,560 24 Interest expense Income before tax (324,080) 903.380 2. 168.910 (919,650) 1,828,560 Selling Price PU IVE CM per unit Total Fixed Costs BEP in units 31 Budget Break-Even Point 210 147 63 10,621,000 169,529 Total contr. fixed cost Oper. Income MOS in units Mos % of sales Margin of Safety Percentage 12,780,600 10,621,000 2,159,600 34,471 16.9% Operating Leverage Total Contrib Oper. Income Operating Leverage 12,780,600 2,159,600 required profit Fixed expenses C s Contr. Margin CM per unit Units to be sold: 41 Goal of 6,500,000 Operating Profit 6,500,000 10,621,000 17.121,000 83 273,280 + 8 Operating Budgets * 1 Income Statement . Cash Budget * Balance Sheet2020 SALES: 170000 2021 SALES 204000 2022 SALES 244800 SALES PRICE: $210 SALES BUDGET QTR1 QTR 2 TR3 QTR4 YR UNITS 10800 81200 71400 30800 204000 SALES PRICE 210 210 210 210 210 Budgeted revenue 8588000 12852000 14894000 8428000 42840000 11 12 PRODUCTION BUDGET 21-2022 02-2022 13 Budgeted sales 40800 8120 71400 30800 204000 48960 73440 14 #ERROR 10% 312 7140 3080 489 4898 7344 15 Total needs 18920 68340 74480 35498 108898 56304 16 BI on hand 3440 3120 7140 3060 3440 4896 17 Total production required 43480 32220 17320 32436 405456 51408 19 MATERIALS PURCHASES BUDGET 20 Budgeted production 43480 82220 87320 32438 205456 51408 21 Sid feet per unit 10 10 10 10 10 10 22 Total feet for production 434800 822200 873200 324380 2054580 514080 23 #ERROR! 15 93330 100980 48854 77112 77112 24 Total feet needed 528130 723180 21854 101472 131872 25 65000 93330 10098 48854 55000 26 Total feet to be purchased 473130 829850 820874 352818 2076872 27 $5/ft 5 Total cost of purchases 2385850 3149250 3104370 1784090 10383380 29 30 DIRECT LABOR BUDGET 31 Production 43480 82220 87320 32438 205456 32 Sid hours per unit 6 33 Total labor hours needed 280880 373320 403920 194818 1232738 34 $9.00/DLH 35 Total cost of direct labor 2347920 3350880 3835280 1751544 11094824 37 OVERHEAD BUDGET: Total labor hours needed 280880 373320 403920 194818 1232738 30 $8.00/DLH 6 8 8 40 Total variable overhead 1585280 2230920 2423520 187896 7308418 41 Fixed overhead-depreciation 80000 20000 12250 122500 425000 Fixed overhead-other 24000 624000 624000 624000 2098000 43 Total budgeted overhead 2179280 2853920 3070020 1814196 9017418 SELLING & ADMIN BUDGET 45 Variable selling- 3.50% 209880 449820 524790 224910 1490400 47 Fixed selling 850000 85000 850000 850000 3400000 45 Fixed admin 980000 98000 980000 980000 3020000 49 Depreciation-selling 75000 75000 5000 75000 300000 Depreciation-admin 120000 120000 120000 120000 48000 51 Total budgeted selling & admin co 2324880 247 4820 2549790 2240910 9508400 54 Operating Budgets * 1 Income Statement Cash Budget * Balance Sheet