Item Quantity Cost Usage Corn 100 Kilogram 200 1,000 portions Frying Pan (disposable 1 non-stick Self-heating) 100 1,000 portions Paper Cups 1,000 33 1,000 portions Required: Assume the business successfully sold all portions for 1 each. Using the following templates, show the financial activity of the business: Raising the minimal required of capital, Purchasing the required inputs, Manufacturing and Selling. Generate the corresponding Income Statements and Statements of Cash Flows The Popcorn Business - set up stage (all equity) ASSETS = LIABILITIES + EQUITY Cash + Corn + Cups + Popcorn + Pan = N/P + CS + RE - N/P: Notes Payable (i.e., loan) CS :Common Shares /Stock (i.e., contributed capital) RE : Retained Earnings/profits (i.e., earned capital) The Popcorn Business - manufacturing & selling = LIABILITIES + ASSETS EQUITY Cash + Corn + Cups + Popcorn + Pan + W.I.P = N/P + CS + RE con o oo W.I.P: Work-in-process