sales for the year 2021 : 1000000 and tax rate is : 35%

Suppose you are interested in evaluating ABC company's financial performance during 2019 and 2020. Use the information provided on the excel sheet to answer the following questions. 1. Prepare the company's Balance sheet and Income Statement during 2019 and 2020. (3 marks) 2. Prepare the company's cash flow statement for the year 2020. (2 marks) 3. Calculate the financial ratios for the company in 2019 and 2020. (2 marks) Note: Purchases were %70 of the cost of goods sold in both years. 2019 2020 Financial Ratios Current ratio Quick ratio Inventory turnover Average age of inventory Average collection period Average payment period Asset turnover Debt ratio Debt to equity ratio Times interest earned ratio Gross profit margin Operating profit margin Net profit margin ROA ROE viewpoint. (2 4. Analyze the company's overall financial situation from a time series marks) 5. Compile the Pro forma Income statement for the year 2020 using percent of sales method. (1 mark) 0........ .... T ... V..., , ,, 1 Information for the year 2019 2 Marketable Securities , 3 Accounts Receivable 7,.. 4 Inventory , 5 Number of shares outstanding , 6 Other current assets 7 Propert, Plant and equipment 8 Machinery A., 9 Furniture 10..., 10 Vehicles 11 Paid in capital in excess of par value 7, 12 Par value of stock 13 Notes payable 14 Accounts payable , 15 Long term loan , 16 Short term loan 17 Dividends 19..... 18 Cash 19 Accumulated depreciation 20 Sales V..., 21 Depreciation expense 0..., 22 Selling expense 10..... 23 Cost of goods sold 0..., 24 Research and development expense 25 General and administrative expense 26 Interest expense , 27 Tax rate Yox 28 Utilities expense 29 Beginning balance of retained earni , 30 Information for the year 2020 Marketable Securities Accounts Receivable Inventory Number of shares outstanding Other current assets Propert, Plant and equipment Machinery Furniture Vehicles Paid in capital in excess of par value Par value of stock Notes payable Accounts payable Long term loan Short term loan Dividends Cash Accumulated depreciation Sales Depreciation expense Selling expense Cost of goods sold Research and development expense General and administrative expense Interest expense Tax rate Utilities expense Beginning balance of retained earnin - 0,.. 7.**** , 9.c, 7. c, H., Yo% 20..... Information for the year 2019 Marketable Securities 20,000.00 Accounts Receivable 60,000.00 Inventory 30,000.00 Number of shares outstanding 120,000.00 Other cutrent assets 10,000.00 Propert, Plant and equipment 400,000.00 Machinery 80,000.00 Fumiture 15,000.00 Vehicles 100,000.00 Paid in capital in excess of par value 600,000.00 Par value of stock 1.00 Notes payable 30,000.00 Accounts payable 30.000,00 Long term loan 19,000.00 Short term loan 20,000.00 Dividends 18,900.00 Cash 500.000.00 Accumulated depreciation 20,000.00 Sales 700,000.00 Depreciation expense 5.000.00 Selling expense 15,000.00 Cost of goods sold 450,000.00 Research and development expense 30.000.00 Gencral and administrative expense 20,000.00 Interest expense 16,000.00 Tax rate 15% Litilities expense 30,000.00 Beginning balance of tetained earnings 237,800.00 Information for the year 2020 Marketable Securities 10.000.00 Accounts Receivable 50,000.00 Inventory 10,000.00 Number of shares outstanding 100.000.00 Other current assets 40,000.00 Propert, Plant and equipment 381,000.00 Machinery 60.000.00 Furniture 70,000.00 Vehicles 120,000.00 Paid in capital in excess of par value 420,000,00 Par value of stock 1.00 Notes payable 30.000.000 Accounts payable 5.000.00 Long term loan 60.000.00 Short term loan 13,500.00 Dividends 16,000.00 Casa 300,000.00 Accumulated depreciation 25,000.00 Sales 900.000.00 Depreciation experts 3,000.00 Selling expense 20,000.00 Cost of goods sold 600.000.00 Research and development expense 30,000.00 General and administrative expense 40.000,00 Interest expense 10,000.00 Tax rate Utilities expense 45,000.00 Beginning balance of retained earnings 35%