On the Excel Financial Forecast worksheet fill in the information highlighted in red with data from Wicked Good Cupcakes company.

Repeat the formulas in column C row 18-37 in column D. Doing this should allow you to adjust values in the Fact and Assumptions part of column D and see its affect in row 18-27 of the same column.

Using the Excel Financial Forecast worksheet, determine the sensitivity of the model by adjusting the values of growth rate in sales and cost of goods sold in column D. Increase and decreases the % values for 2017 and observe and record the results. Create an Excel chart for each (growth rate in sales and cost of goods sold) the resulting impact on external funding required

612/1/201 Assets Current Assets Cash Acoounts Receivable Raw Materials FinishedGoods Total Current Assets Fixed Assets Land Plant and equipment Less Acoumulated depreciatic Net plant and equipment Total Fined Assets Dther Assets Total Assets Liabihies and Net Worth Current Liabilities Acoounts Payable Notes Payable Due Contractor Acorued takes Total current liabilities Long-term liabilities Common Stock Retained earnings Total Liabilities and net worth Funds required Hicked Good Cupcakes Pro Forma Income Statement Actual 9/30/2017 Change Pro Forma Ended 12/31/2017 Change Pro Forma Ended 12/31/2017 \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|l|}{ Facts and Assumptions } \\ \hline Year & 2015 & 2016 & 2017 \\ \hline Net sales & $20,613 & $27,828 & \\ \hline Growth rate in sales & & 35% & 50% \\ \hline Cost of goods sold & & 86% & 86% \\ \hline Gen., sell, and admin. Expenses & & 12% & 11% \\ \hline Long-term debt & $760 & 760 & 760 \\ \hline Current portion long-term debt & $100 & 100 & 100 \\ \hline Interest rate & & 10% & 10% \\ \hline Tax rate & & 45% & 45% \\ \hline Dividend/earnings after tax & & 50% & 50% \\ \hline Current assets & & 29% & 29% \\ \hline Net fixed assets & 100 & 100 & 100 \\ \hline Current liabilities & & \multirow[t]{2}{*}{14.5%} & 14.4% \\ \hline Owners' equity & \$ 1,730 & & \\ \hline \multicolumn{4}{|l|}{ INCOME STATEMENT } \\ \hline Year & 2015 & 2016 & 2017 \\ \hline Net sales & & $27,828 & \\ \hline Cost of good sold & & 23,932 & \\ \hline Gross profit & & 3,896 & \\ \hline Gen., sell, , and admin. exp. & & 3,339 & \\ \hline Interest expense & & 86 & \\ \hline Earnings before tax & & 471 & \\ \hline Tax & & 212 & \\ \hline Earnings after tax & & 259 & \\ \hline Dividends paid & & 129 & \\ \hline Additions to retained earnings & & 129 & \\ \hline \multicolumn{4}{|l|}{ BALANCE SHEET } \\ \hline Current assets & & $8,070 & \\ \hline Net fixed assets & & 100 & \\ \hline Total assets & & 8,170 & \\ \hline Current liabilities & & 4,035 & \\ \hline Long-term debt & & 760 & \\ \hline Equity & & 1,859 & \\ \hline Total liabilities and shareholders' equity & & 6,654 & \\ \hline EXTERNAL FUNDING REQUIRED & & $1,516 & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|l|}{\begin{tabular}{l} Cash Flow Statement 2016 \\ (\$ Thousands) \end{tabular}} \\ \hline Cash Flow from Operating Activities & Line(s) Used (e.g., 2015 Accounts Payable - 2016 Accounts Payable) \\ \hline \multicolumn{2}{|l|}{ Net income } \\ \hline \multicolumn{2}{|l|}{ Change in Accounts Payable } \\ \hline \multicolumn{2}{|l|}{ Change in Accounts Receivable } \\ \hline \multicolumn{2}{|l|}{ Change in Inventory } \\ \hline \multicolumn{2}{|l|}{ Other Adjustments: } \\ \hline \multicolumn{2}{|l|}{ Accrued Expenses } \\ \hline \multicolumn{2}{|l|}{ Depreciation Expense } \\ \hline \multicolumn{2}{|l|}{ Income Taxes } \\ \hline \multicolumn{2}{|l|}{ Net Cash provided by Operating Activities } \\ \hline Cash Flow from Investing Activities & Line(s) Used \\ \hline \multicolumn{2}{|l|}{ Sale of Plant, Property and Equipment } \\ \hline \multicolumn{2}{|l|}{ Purchase of Assets (Intangibles) } \\ \hline \multicolumn{2}{|l|}{ Sales of other assets } \\ \hline \multicolumn{2}{|l|}{ Income from short term investments (assumption from IS) } \\ \hline \multicolumn{2}{|l|}{ Net Cash used in Investing Activities } \\ \hline Cash Flows from Financing Activities & Line(s) Used \\ \hline \multicolumn{2}{|l|}{ Additions to long-term debts } \\ \hline \multicolumn{2}{|l|}{ Cash dividends } \\ \hline \multicolumn{2}{|l|}{ Repurchase of Treasury Stock } \\ \hline \multicolumn{2}{|l|}{ Net cash used in Financing Activities } \\ \hline \multicolumn{2}{|l|}{ Increase/Decrease in cash and cash equivalents } \\ \hline \multicolumn{2}{|l|}{ Cash and Cash Equivalents at the beginning of the period } \\ \hline Cash and Cash Equivalents at the end of the period & \\ \hline \end{tabular} 612/1/201 Assets Current Assets Cash Acoounts Receivable Raw Materials FinishedGoods Total Current Assets Fixed Assets Land Plant and equipment Less Acoumulated depreciatic Net plant and equipment Total Fined Assets Dther Assets Total Assets Liabihies and Net Worth Current Liabilities Acoounts Payable Notes Payable Due Contractor Acorued takes Total current liabilities Long-term liabilities Common Stock Retained earnings Total Liabilities and net worth Funds required Hicked Good Cupcakes Pro Forma Income Statement Actual 9/30/2017 Change Pro Forma Ended 12/31/2017 Change Pro Forma Ended 12/31/2017 \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|l|}{ Facts and Assumptions } \\ \hline Year & 2015 & 2016 & 2017 \\ \hline Net sales & $20,613 & $27,828 & \\ \hline Growth rate in sales & & 35% & 50% \\ \hline Cost of goods sold & & 86% & 86% \\ \hline Gen., sell, and admin. Expenses & & 12% & 11% \\ \hline Long-term debt & $760 & 760 & 760 \\ \hline Current portion long-term debt & $100 & 100 & 100 \\ \hline Interest rate & & 10% & 10% \\ \hline Tax rate & & 45% & 45% \\ \hline Dividend/earnings after tax & & 50% & 50% \\ \hline Current assets & & 29% & 29% \\ \hline Net fixed assets & 100 & 100 & 100 \\ \hline Current liabilities & & \multirow[t]{2}{*}{14.5%} & 14.4% \\ \hline Owners' equity & \$ 1,730 & & \\ \hline \multicolumn{4}{|l|}{ INCOME STATEMENT } \\ \hline Year & 2015 & 2016 & 2017 \\ \hline Net sales & & $27,828 & \\ \hline Cost of good sold & & 23,932 & \\ \hline Gross profit & & 3,896 & \\ \hline Gen., sell, , and admin. exp. & & 3,339 & \\ \hline Interest expense & & 86 & \\ \hline Earnings before tax & & 471 & \\ \hline Tax & & 212 & \\ \hline Earnings after tax & & 259 & \\ \hline Dividends paid & & 129 & \\ \hline Additions to retained earnings & & 129 & \\ \hline \multicolumn{4}{|l|}{ BALANCE SHEET } \\ \hline Current assets & & $8,070 & \\ \hline Net fixed assets & & 100 & \\ \hline Total assets & & 8,170 & \\ \hline Current liabilities & & 4,035 & \\ \hline Long-term debt & & 760 & \\ \hline Equity & & 1,859 & \\ \hline Total liabilities and shareholders' equity & & 6,654 & \\ \hline EXTERNAL FUNDING REQUIRED & & $1,516 & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|l|}{\begin{tabular}{l} Cash Flow Statement 2016 \\ (\$ Thousands) \end{tabular}} \\ \hline Cash Flow from Operating Activities & Line(s) Used (e.g., 2015 Accounts Payable - 2016 Accounts Payable) \\ \hline \multicolumn{2}{|l|}{ Net income } \\ \hline \multicolumn{2}{|l|}{ Change in Accounts Payable } \\ \hline \multicolumn{2}{|l|}{ Change in Accounts Receivable } \\ \hline \multicolumn{2}{|l|}{ Change in Inventory } \\ \hline \multicolumn{2}{|l|}{ Other Adjustments: } \\ \hline \multicolumn{2}{|l|}{ Accrued Expenses } \\ \hline \multicolumn{2}{|l|}{ Depreciation Expense } \\ \hline \multicolumn{2}{|l|}{ Income Taxes } \\ \hline \multicolumn{2}{|l|}{ Net Cash provided by Operating Activities } \\ \hline Cash Flow from Investing Activities & Line(s) Used \\ \hline \multicolumn{2}{|l|}{ Sale of Plant, Property and Equipment } \\ \hline \multicolumn{2}{|l|}{ Purchase of Assets (Intangibles) } \\ \hline \multicolumn{2}{|l|}{ Sales of other assets } \\ \hline \multicolumn{2}{|l|}{ Income from short term investments (assumption from IS) } \\ \hline \multicolumn{2}{|l|}{ Net Cash used in Investing Activities } \\ \hline Cash Flows from Financing Activities & Line(s) Used \\ \hline \multicolumn{2}{|l|}{ Additions to long-term debts } \\ \hline \multicolumn{2}{|l|}{ Cash dividends } \\ \hline \multicolumn{2}{|l|}{ Repurchase of Treasury Stock } \\ \hline \multicolumn{2}{|l|}{ Net cash used in Financing Activities } \\ \hline \multicolumn{2}{|l|}{ Increase/Decrease in cash and cash equivalents } \\ \hline \multicolumn{2}{|l|}{ Cash and Cash Equivalents at the beginning of the period } \\ \hline Cash and Cash Equivalents at the end of the period & \\ \hline \end{tabular}