Marks]SkyBlue Enterprises is a small business operating in East London, Eastern Cape. The small businesshas been operating for less than five years. Unfortunately, SkyBlue enterprise is among many smallbusinesses in South Africa that were affected by the Covid-19 pandemic. As a financial expert, youare required to analyse SkyBlues financial statements from 2020 to 2022. Therefore, answer thefollowing questions based on the provided financial information.1a) Calculate the missing values for total current assets, total assets, total liabilities, common equity,and total liabilities & equity for each year. (18)1b) Calculate the missing values for gross profit and net income for each year. (12)Financial Statements Analysis: BlueSky Enterprises from 2020 to 2022:Balance Sheet (in R)2020 2021 2022Cash 25,000 30,000 35,000Accounts Receivable 20,000 22,000 24,000Inventory 30,000 35,000 40,000Total Current Assets ? ? ?Fixed Assets 70,000 80,000 90,000Total Assets ? ? ?Accounts Payable 18,000 20,000 22,000Short-Term Debt 10,000 8,000 6,000Long-Term Debt 40,000 35,000 30,000Total Liabilities ? ? ?Common Equity ? ? ?

UFH Business Management (BEC121E): Assignment(2023)PageTotal Liabilities & Equity ? ? ?Income Statement (in R)2020 2021 2023Sales Revenue 250,000 280,000 300,000Cost of Goods Sold 140,000 160,000 180,000Gross Profit ? ? ?Operating Expenses 70,000 75,000 80,000Interest Expense 4,000 3,500 3,000Net Income ?