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Please complete the yellow highlighted arts. Pleascshowtheformulas if the number or figures are not rovided In the roblern. HW7-1 (20 POINTS) Repeat the Spuds and Suds Income Statement example from Chapter 7 with thc following assumptions: price per unit and fixed costs are expected to increase by an average annual rate of innation of 2%. Also assume that variable costs as a percent of sales will remain constant at 65%. Finally, suppose that Spuds and Suds is a firm in the early stage of business, and that unit sales arc projected to grow at a rate of 20%, 15%, 10% and 5% for 2020-2024 respectively. a) Create anincomc statement using dic assumptions explained above. (Analysis 4 pts) b) Calculate the operating break-even point in both units and dollars. (Analysis 4 pts) c) Howmanyunits would Suds need to sell in order to achieve earnings, before interest and taxes of $900,000? (dentifr and Access Needed Information 4 pts) d) Calculate the degree ofopcrating, financial, and combined leverage for each year. (Use Effectively to Accomplish a Specific Purpose 4 pts) e) Create a chart that shows how the various lgvemge measures have changed over this five-year period. (Use Information Effectively to Accomplish a Specific Purpose 4 pts) f) Interpretation: please describe whew you obtained informaon to develop analyses and interpret the results. Please include your written description in the "intqrctaon" tab. Ifyou do not complete this section with your words or leave the interpretation tab as a blank, you receive O point in this HW. 30 31 S uds and Suds Income Statement ded Dec. 31 2021 10 11 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 32 33 34 35 36 37 38 42 2021 Sales Less: Vmablc Costs Less: Fixed Costs Earnings Before Interest and Taxes Less: Interest Ex ensc Earning'Before Tares Taxes Net Income Less: Preferred Dividends Net Income Available 10 Common Common Shares Outstanding Earnings per Share Price per Unit Unit Target EBIT Vanable Costs as a % of Sales Projected Unit Sals Growth Inflation Rate Tax Rate Break-even Point (Units) Break-even Point Ilars Units to Meet EBTTT et %Change in Sales fmm Prior Year %Change in EBIT from Prior Year %Chan e in EPS from Prior Year 2021 Degree of Operating Leverage Degree of Combined Leverage 2022* Assum tions 2022* 2023 2023* 2024* 2024* 2025