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Question 1 (6 marks) Partial forecasts of financial statements for Watson Corporation appear in Exhibit (1.1: Income Statement), Exhibit (1.2: Balance Sheet), and Exhibit (1.3: Statement of Cash Flows). Selected amounts have been omitted, as have all totals (indicated by XXXX). Pequired: Deternine the amouns of each of the follovaing items: A. Dividends declared and paid for Year 1. B. Depreciation expense for Year 1 assaming that Watson Corporation ncither sold noo setired depreciable assets daring Year 1. 3 C. Invenerories at the end of Year 2 . D. Interest cypense on bocrowing during Year 2, with an intcrest rate of 7t: E. Other current liabilities at the end of Year 2 . F. Property. plant, and equipment at the end of Yeat 3 assurning that Watson Corpoeation neither wold nor retired depecciable assets during Year 3. G. Retained carnings at the end of Year 3. H. Long-term debt at the end of Yeat 3 . 1. The income tax rate for Year 4 . d. Purchases of imventories daring Year 4. Answer fa. Question 1 ( 6 marhs)