Make the classified balance sheet and income statement for the year ended $2019$ based on this

partial analysis of the company's financial position and performance:

The company maintains a cash balance equal to $1\%$ of sales

KAPE Cups' current and quick ratio were $2$ and $0\mathrm{.}75,$ respectively

The company took about $18\mathrm{.}25$ days to collect its credit sales and $36\mathrm{.}5$ days to sell coffee

beans from the acquisition date. Its total asset turnover was $2\mathrm{.}5$

Total fixed assets, net of accumulated depreciation was $37\mathrm{.}5\%$ of total assets

Total liabilities for the year went up to $65\%$ of total assets due to the $2019$ acquisition of

a long$-$term debt that paid $25\%$ annual interest. The entire principal was still outstanding

in $2019$

The company paid P$61,762\mathrm{.}50$ worth of interest during the year which was earned $2\mathrm{.}2222$

times in $2019$

Accrued expenses amounted P$27,450$ while retained earnings amounted P$119,400$ in

$2019$

Selling expense was $20\%$ of cost of goods sold while general and administrative expense

was $18\%$ of sales

KAPE cups' return on total assets was $13\mathrm{.}75\%.$ Gross profit and net profit margin were

$40\%$ and $5\mathrm{.}5\%,$ respectively. EPS in $2019$ was computed to be $7\mathrm{.}54875.$

Outstanding shares of stocks $10,000$@$,$P$5$ per share.

KAPE Cups had utilized the following account titles since $2019$: cash, accounts receivable,

inventory, prepaid expenses, fixed assets $-$ net, other non$-$current assets, accounts payable, accrued

expenses, long term debt, common stock, additional paid in capital, and retained earnings, sales,

cost of goods sold, selling expenses, general and administrative expenses, interest expense. $($Use

ending balances as your average.$)$

a$.$ For the year ending December $31,2019$:

Present an Income Statement $($Statement of Comprehensive Income$)$

Present a classified Balance Sheet $($Statement of Financial Position$)$

Analyze the liquidity, solvency, and profitability of the company.

b$.$ If they will assume that expansion in $2020$ will generate additional sale of $30\%,$ present the

projected Income statement of the company in $2020$ and analyze its profitability. Assume

that financial data will be the same in $2020$ as in $2019.$

c$.$ Will the Board of Directors consider the proposed expansion? What other financial

statement analysis tools can they present to convince the Board of Directors?