Please all the questions at the earliest time and thank you

Instructions: Due date: December 17 2020, by 3:00 pm. - This is a group project every 5 student together. You can choose your partner by yourself Submit a soft copy of the answers to the four questions below via Retaj. This project is worth 15% of your final grade. Suppose you are interested in evaluating Ashmoat Cycles Corporation. Given the corporation's income statement and balance sheet, answer the following questions: 1. Calculate the Ashmont Cycles Corporation financial ratios for the years 2019 and 2020. (6 marks) 2019 2020 Financial ratio Current ratio Inventory tumer Average collection period Total asset tumover Debt ratio Debt to equity ratio Times interest camed ratio Gross profit margin Operating profit margin Net profit margin Return on Assets(ROA) Retum on equity (ROE) 2. Analyze the overall financial situation from a time-series viewpoint. Break your analysis into an evaluation of the firm's liquidity, activity, debt, and profitability (2 marks) 3. Prepare the cash flow statement for Ashmont Cycles Corporation for the year ended December 319 2020 using the indirect method. (4 marks) 4. Ashmont Cycles Corporation estimates its sales for the 2021 financial year will be S500,000. No new borrowing was obtained and therefore, the interest expense will remain unchanged $1.200 during 2021. Compile the Pro forna Income statement for Aslmout Cycles Corporation for the year 2021 using percent of sales method (3 marks) fx B C D E F Ashmont Cycles Balance Sheet Azof December 31.2010 2020 2019 2020 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 16 19 20 21 22 23 24 8,000 2,500 65,000 1.500 500 77,500 12,000 -2400 3,368 2.200 71,500 1.800 79,468 17,400 -3.400 13.920 93388 87.100 Assets Cash Accounts receivable Inventory Prepaid expenses Other current assets Total current assets Property, plant, and equipment Accumulated depreciation Net property, plant, and equipment Total Assets Liabilities Accounts payable Line of credit Current portion of long-term debt Accrued expenses Total Current Liabilities Long-term debt Total Liabilities Owner's Equity Contributed capital Retained earnings Total Owner's Equity 3,000 10,000 4,000 1.100 18.100 16.000 34 100 3,200 10,000 4,000 1.100 18.300 12.000 30.300 26 27 50,000 3.000 52100 50,000 13.088 6209 Ashmont Cycles Income Statement For the readed December 21 2019.d.2020 2019 2020 $155,000 -25.000 70.000 $205,000 -100.000 99,000 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 61 52 Sales Cost of goods sold Gross Profit Operating Expense: Selling, general and administrative expenses Utes expense Rent expense Depreciation and amortization Total Operating expenses Operating Income Interest expense Income before Income Taxes income taxes (35%) Net Income 40.000 -5,000 -10.000 1080 -5.RO 13.920 1200 12.720 -4.452 5.8.268 -58,000 5.960 - 16,240 1. DAD -82.280 16,720 -L200 15.520 -5,432 $10.088