Please show your work using EXCEL SPREADSHEET

Your staff has provided their forecast of the following financial areas of Old Ford Parts Supply (in the table below) for 2022, but did not complete the Proforma Statements that result from the forecasts.

A. Using this data, complete the proforma financial statements below by filling in the appropriate (white/unshaded) blanks. You do not need the other (dark grey) blanks.

B. Based on your proforma financial statements, what is the firm's estimated Additional Funds Needed for 2022?

C. What does the answer above indicate? discuss your result, what it implies, and how management would use it.

2021 Old Ford Parts Supply Corp. - Forecasts Sales Net Profit Margin Dividends Total Assets Long Term Debt Common Stock 2022 25,450,000 4.36% 0 22,273,214 5,680,804 8,459,000 Last year's Retained Earnings 6,250,000 Old Ford Parts Supply Corporation Proforma Financial Statements 2021 2022 Income Statements (000s). Sales Cost of goods sold Gross profit Operating Expenses Advertising Depreciation EBIT Interest EBT Taxes EAT Dividends 2021 2022 Balance Sheets (000s) Cash Accounts receivable Inventory Total current assets Land Buildings and equipment Less: accumulated depreciation Total fixed assets Total assets Accounts payable Bank notes Total current liabilities Long-term debt Common stock Retained earnings Total liabilities & equity AFN