Please complete in excel and show all the steps and bold the final answer

Financial information on AAA Ltd. is shown below. AAA Ltd. Income Statement For the Year Ended December 31st, 2019 2018 Sales 4,215,750 3,850,000 Cost Of Goods Sold 2,178,700 2,016,320 Other Expenses 1,005,200 986,500 Depreciation 9,800 8,550 Eamings Before Interest and Taxes 1,022,050 838,630 Interest Expense 56,735 46,870 Earnings Before Taxes 965,315 791,760 Taxes (30%) 289,595 237,528 Net Income $ 675,721 $ 554,232 AAA Ltd. Balance Sheet As at December 31st, ASSETS 2019 2018 Cash & Equivalent 50,750 23,180 Short-term investments 202,834 186,014 Inventories 1,458,841 1,355,047 Accounts Receivable 218,500 131,221 Total Current Assets 1.930.925 1,695,462 Prop, Plant & Equip - Net 2,154,301 1,940,594 Total Assets $ 4,085,226 $3.636,056 LIABILITIES & EQUITY Accounts Payable Notes Payable Accruals Short-term Debt Total Current Liabilities Long-Term Debt Total Liabilities Common Share Capital Retained Earnings Total Equity Total Liabilities and Equity 267,566 258.151 82,823 62,310 58,559 31,210 314,469 317,416 723,417 669,087 833,547 844,139 1,556,964 1,513,226 650,000 650,000 1,878,263 1,472,830 2,528,263 2,122,830 $4,085,226 $3.636,056 Answer the following questions (a-e). (Please note: short-term investments are non-operating current assets; notes payable and short-term debt are non-operating current liabilities.] a) What is Operating Cash Flow for 2019? b) What is Free Cash Flow for 2019? c) The stock is traded at $30 per share at the end of 2019 and there are 100,000 shares outstanding. What is MVA during 2019? d) Given the firm's WACC is 10%, what is EVA during 2019? In addition to the AAA Ltd. financial statements, you are given more information as follows: Sales are forecast to increase by 10% in 2020. Notes Payable, short-term Debt. Long-term Debt and Common Share Capital will not change. Net Plant and Equipment is forecasted to be $2,500,000 next year. Short-term investments are expected to be $250,000 In 2020, the company's dividend payout ratio will be 40%. In 2020, cost of goods sold is expected to be 50% of sales. Other expenses will be 25% of sales. Depreciation expense in 2020 is expected to be $11,000. Cash is expected to be 1% of sales, and inventories will be 40% of sales. Accounts receivable will be 4% of sales. Accounts payable will be 4% of sales. Accruals will be 1% of sales. The company is expected to pay 6% per year compounded annually on its short-term debt and 8% per year compounded annually on its long-term debt. The interest expense on the short-term debt in 2020 is calculated as interest rate on short-term debt * amount of short-term debt outstanding at the end of 2019. The interest expense on the long-term debt is calculated as interest rate on long-term debt * amount of long-term debt outstanding at the end of 2019. The company's tax rate is 30%. Based on the information provided you are to: e) Complete the pro-forma income statement and balance sheet for 2020. f) Calculate the amount of Additional Funds Needed in 2020. Financial information on AAA Ltd. is shown below. AAA Ltd. Income Statement For the Year Ended December 31st, 2019 2018 Sales 4,215,750 3,850,000 Cost Of Goods Sold 2,178,700 2,016,320 Other Expenses 1,005,200 986,500 Depreciation 9,800 8,550 Eamings Before Interest and Taxes 1,022,050 838,630 Interest Expense 56,735 46,870 Earnings Before Taxes 965,315 791,760 Taxes (30%) 289,595 237,528 Net Income $ 675,721 $ 554,232 AAA Ltd. Balance Sheet As at December 31st, ASSETS 2019 2018 Cash & Equivalent 50,750 23,180 Short-term investments 202,834 186,014 Inventories 1,458,841 1,355,047 Accounts Receivable 218,500 131,221 Total Current Assets 1.930.925 1,695,462 Prop, Plant & Equip - Net 2,154,301 1,940,594 Total Assets $ 4,085,226 $3.636,056 LIABILITIES & EQUITY Accounts Payable Notes Payable Accruals Short-term Debt Total Current Liabilities Long-Term Debt Total Liabilities Common Share Capital Retained Earnings Total Equity Total Liabilities and Equity 267,566 258.151 82,823 62,310 58,559 31,210 314,469 317,416 723,417 669,087 833,547 844,139 1,556,964 1,513,226 650,000 650,000 1,878,263 1,472,830 2,528,263 2,122,830 $4,085,226 $3.636,056 Answer the following questions (a-e). (Please note: short-term investments are non-operating current assets; notes payable and short-term debt are non-operating current liabilities.] a) What is Operating Cash Flow for 2019? b) What is Free Cash Flow for 2019? c) The stock is traded at $30 per share at the end of 2019 and there are 100,000 shares outstanding. What is MVA during 2019? d) Given the firm's WACC is 10%, what is EVA during 2019? In addition to the AAA Ltd. financial statements, you are given more information as follows: Sales are forecast to increase by 10% in 2020. Notes Payable, short-term Debt. Long-term Debt and Common Share Capital will not change. Net Plant and Equipment is forecasted to be $2,500,000 next year. Short-term investments are expected to be $250,000 In 2020, the company's dividend payout ratio will be 40%. In 2020, cost of goods sold is expected to be 50% of sales. Other expenses will be 25% of sales. Depreciation expense in 2020 is expected to be $11,000. Cash is expected to be 1% of sales, and inventories will be 40% of sales. Accounts receivable will be 4% of sales. Accounts payable will be 4% of sales. Accruals will be 1% of sales. The company is expected to pay 6% per year compounded annually on its short-term debt and 8% per year compounded annually on its long-term debt. The interest expense on the short-term debt in 2020 is calculated as interest rate on short-term debt * amount of short-term debt outstanding at the end of 2019. The interest expense on the long-term debt is calculated as interest rate on long-term debt * amount of long-term debt outstanding at the end of 2019. The company's tax rate is 30%. Based on the information provided you are to: e) Complete the pro-forma income statement and balance sheet for 2020. f) Calculate the amount of Additional Funds Needed in 2020