I need help with questions 20 and 21. Thank you.

YOUR UNCLE'S EARLY RETIREMENT DECISION Constants Salary increase tactor Part-time wages expected (retired) Buy out amount Cost ot living (not retired) Country club dues In uts Retired [R] or Working Sta in club? or N Summary ot Key Results End-ot-year cash on nand Calculations Tax rate Cost ot living Yearly salary or part-time wages Country club dues pad Income Statement and Cash Flow Statement Beginning-ot-year cash on nand Salary or wages Buy out income Total cash inflow Country club dues paid Cost ot living Total costs Income before taxes Income tax expense Net income atter taxes End-ot-year cash on nand Year O Year O Year O Year O SIO,ooo Year O Year 1 3.00% SIO,ooo S45,ooo S41,ooo S12,ooo Year 1 Year 1 S44,450 Year 1 15.00% S26,ooo SIO,ooo S12,ooo Year 1 SIO,ooo S45,ooo S55,ooo S12,ooo S26,ooo 98,000 S17,ooo S2,550 S14,450 S44,450 Year 2 3.00% SIO,200 sao,ooo S42,ooo S13,ooo Year 2 Year 2 S44,620 Year 2 15.00% S27,ooo SIO,200 S13,ooo Year 2 S44,450 SIO,200 sao,ooo S40,200 S13,ooo S27,ooo S40,ooo S200 S170 S44,620 Year 3 Question # 2.00% SIO,500 SIO,ooo S43,ooo S14,ooo Year 3 Year 3 S23,120 Year 3 15.00% S28,ooo L SIO,500 S14,ooo Year 3 S44,620 SIO,500 SIO,ooo S20,500 S14,ooo S28,ooo S42,ooo (S21 ,500) so (S21 ,500) S23,120 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Enter the constant values presented in the case (page 102, Figure c-21) Format cells With S, no decimals for all "Dollar amount cells" Format cells With percentages as percent Questions 20 and 21 will require the Inputs cells to be changed Add the cell address where this value was calculated 4 Formula: Formula: Formula: Formula: Determine tax rate when retired or working Cost of living when retired or working Yearly salary or part-time wages (retired or working) If "Stay in club" is Y or N Q 20 -What is the Third Year End of Year Cash on Hand? Q 21 -What is the Third Year End of Year Cash on Hand? Add the cell address where this value was calculated Formula: Salary or Wages Formula: Buy out income f retired Formula: Calculate Total Cash Inflow based on textbook description Add the cell address where this value was calculated Add the cell address where this value was calculated Formula: Calculate Total Costs Formula: Calculate Income before taxes (read on page 104 to determine what is "income before taxes). Formula: Determne Income expense. (page 104, when are Income taxes applied?) Formula: Calculate net income after taxes Formula: Calculate end of year cash Manually change the "Inputs" to determine End of Year cash on hand for the Third Year the uncle retires in year 1 and stays in the country club Manually change the "Inputs" to determne End of Year cash on hand for the Third Year the uncle Works Year 1 and Retired in Year 2 and Year 3 and Leaves the country club in Year 1 YOUR UNCLE'S EARLY RETIREMENT DECISION Constants Salary increase tactor Part-time wages expected (retired) Buy out amount Cost ot living (not retired) Country club dues In uts Retired [R] or Working Sta in club? or N Summary ot Key Results End-ot-year cash on nand Calculations Tax rate Cost ot living Yearly salary or part-time wages Country club dues pad Income Statement and Cash Flow Statement Beginning-ot-year cash on nand Salary or wages Buy out income Total cash inflow Country club dues paid Cost ot living Total costs Income before taxes Income tax expense Net income atter taxes End-ot-year cash on nand Year O Year O Year O Year O SIO,ooo Year O Year 1 3.00% SIO,ooo S45,ooo S41,ooo S12,ooo Year 1 Year 1 S44,450 Year 1 15.00% S26,ooo SIO,ooo S12,ooo Year 1 SIO,ooo S45,ooo S55,ooo S12,ooo S26,ooo 98,000 S17,ooo S2,550 S14,450 S44,450 Year 2 3.00% SIO,200 sao,ooo S42,ooo S13,ooo Year 2 Year 2 S44,620 Year 2 15.00% S27,ooo SIO,200 S13,ooo Year 2 S44,450 SIO,200 sao,ooo S40,200 S13,ooo S27,ooo S40,ooo S200 S170 S44,620 Year 3 Question # 2.00% SIO,500 SIO,ooo S43,ooo S14,ooo Year 3 Year 3 S23,120 Year 3 15.00% S28,ooo L SIO,500 S14,ooo Year 3 S44,620 SIO,500 SIO,ooo S20,500 S14,ooo S28,ooo S42,ooo (S21 ,500) so (S21 ,500) S23,120 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Enter the constant values presented in the case (page 102, Figure c-21) Format cells With S, no decimals for all "Dollar amount cells" Format cells With percentages as percent Questions 20 and 21 will require the Inputs cells to be changed Add the cell address where this value was calculated 4 Formula: Formula: Formula: Formula: Determine tax rate when retired or working Cost of living when retired or working Yearly salary or part-time wages (retired or working) If "Stay in club" is Y or N Q 20 -What is the Third Year End of Year Cash on Hand? Q 21 -What is the Third Year End of Year Cash on Hand? Add the cell address where this value was calculated Formula: Salary or Wages Formula: Buy out income f retired Formula: Calculate Total Cash Inflow based on textbook description Add the cell address where this value was calculated Add the cell address where this value was calculated Formula: Calculate Total Costs Formula: Calculate Income before taxes (read on page 104 to determine what is "income before taxes). Formula: Determne Income expense. (page 104, when are Income taxes applied?) Formula: Calculate net income after taxes Formula: Calculate end of year cash Manually change the "Inputs" to determine End of Year cash on hand for the Third Year the uncle retires in year 1 and stays in the country club Manually change the "Inputs" to determne End of Year cash on hand for the Third Year the uncle Works Year 1 and Retired in Year 2 and Year 3 and Leaves the country club in Year 1