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Use the following financial statements for questions 1 through 4:
Manutech Ltd
Income Statement
Year Ended December 31
		2019		2018
Net sales		$ 1,470,000		$ 1,200,000
Variable Costs		882,000		720,000
Contribution Margin		$ 588,000		$ 480,000
Fixed Costs		177,000		114,000
Operating income (EBIT)		$ 411,000		$ 366,000
Interest expense		56,200		53,600
Earnings before taxes (EBT)		$ 354,800		$ 312,400
Income tax expense		106,440		93,720
Earnings after taxes (EAT)		$ 248,360		$ 218,680
Manutech Ltd
Statement of Financial Position
Year Ended December 31
		2019		2018
Assets
Current Assets
	Cash	$ 8,360		$ 79,500
	Accounts Receivable	150,000		105,000
	Merchandise Inventory	112,000		90,000
Total Current Assets		$ 270,360		$ 274,500
Property, Plant and Equipment		1,555,000		1,255,000
Accumulated Depreciation		(455,000)		(290,000)
	Property, Plant and Equiment (net)	$ 1,100,000		$ 965,000
Intangible Assets		120,000		120,000
Total Assets		$ 1,490,360		$ 1,359,500
Liabilities & Shareholder's Equity
Current Liabilities
	Accounts Payable	$ 65,000		$ 72,500
	Accrued Liabilities	15,000		20,000
	Bank Loan	85,000		-
Total Current Liabilities		$ 165,000		$ 92,500
Mortage Payable		650,000		670,000
Total Liaibilities		$ 815,000		$ 762,500
Shareholder's Equity
	Common Shares (10,000 issued)	100,000		100,000
	Retained Earnings	575,360		497,000
Total Shareholder's Equity		$ 675,360		$ 597,000
Total Liab & Shareholder's Equity		$ 1,490,360		$ 1,359,500

Manutech Ltd had a good year in 2019. Sales were up significantly and are expected continue to grow in 2020. The company has hired you as their new financial analyst and they want you to finish creating the year-end reporting package for the owner.

Specifically, you need to complete the table of ratios your predecessor started and comment on how the company is doing compared to industry averages. You also need to create the Statement of Cash Flows for 2019.

Finally, theyre a little concerned about the impact their high rate of growth is having on the financial stability of the company. They ask you to compare company results to industry results using the three components of DuPont analysis.

Create the Statement of Cash Flows using the template below. (Click on the reference/template download below. Use this file to complete the cash flow statement. Save the file as your name and upload the file using the "upload a solution" link below.) To help you complete the statement, please note the following:

• Of the fixed costs for 2019, depreciation (the only non-cash item in fixed costs) amounts to $165,000.
• The Property, Plant and Equipment account reflects the purchase of a new piece of manufacturing machinery, purchased at a cost of $300,000 There.were no other purchases or sales of Property, Plant and Equipment.
• Although Bank Loan shows up in the current liabilities section, it should not be considered a current liability for Statement of Cash Flow purposes. It is a method of financing the balance sheet.