Question 10 12 pts 4.(12 points) Record the following transactions in the financial statements effects template below. 1. Company receives $6,000 from the sale of gift certificates. 2. Customers used $5,700 gift certificates. The cost of the inventory sold is $3,900. 3. The balance of the gift certificates expire unused. Income Statement Balance Sheet Noncash Liabil- Earned Rev- Net Expen- Cash Transaction Asset + = + Contrib. + Capital Assets ities ses Capital enues Income a) = b) = = c) Question 11 12 pts 5.(9 points)Selected income statement and balance sheet data follow for Snap-On Incorporated for fiscal 2020 and 2019. Use these data to calculate a) FLEV, b) spread, and c) return on equity (ROE) for fiscal 2018 only. (in millions) 2020 2019 Net nonoperating expenses, after tax (NNE) $ 33.3 $ 34.2 Net operating assets (NOA) $3,567.8 $3,218.0 Net nonoperating obligations (NNO) $ 932.6 $ 787.3 Return on net operating assets (RNOA) 17.5% 16.8% Question 10 12 pts 4.(12 points) Record the following transactions in the financial statements effects template below. 1. Company receives $6,000 from the sale of gift certificates. 2. Customers used $5,700 gift certificates. The cost of the inventory sold is $3,900. 3. The balance of the gift certificates expire unused. Income Statement Balance Sheet Noncash Liabil- Earned Rev- Net Expen- Cash Transaction Asset + = + Contrib. + Capital Assets ities ses Capital enues Income a) = b) = = c) Question 11 12 pts 5.(9 points)Selected income statement and balance sheet data follow for Snap-On Incorporated for fiscal 2020 and 2019. Use these data to calculate a) FLEV, b) spread, and c) return on equity (ROE) for fiscal 2018 only. (in millions) 2020 2019 Net nonoperating expenses, after tax (NNE) $ 33.3 $ 34.2 Net operating assets (NOA) $3,567.8 $3,218.0 Net nonoperating obligations (NNO) $ 932.6 $ 787.3 Return on net operating assets (RNOA) 17.5% 16.8%