Scenario: You have been hired as a manager for a family$-$owned agribusiness that specializes in producing and selling organic fruits and vegetables, in addition to a pumpkin patch called Bernbeck Pumpkin Patch. The company has been in operation for the past three years and has experienced steady growth. The owner is interested in evaluating the company's financial performance to make informed decisions for future investments. Using the financial data provided below, fill in the missing pieces of data and missing calculations for the income statement and balance sheet ending December $31,2023.$ Leave any unused lines blank; you may not use all the data below. The cells that are highlighted in yellow require a calculation. Make sure your work is legible, or it will not be graded.Financial Data: Accounts Payable $=$ $$25,000$ Accounts Receivable $=$ $$50,000$ Bad Debt $=$ $$1,450$ Cost of Organic Produce $=$ $$65,000$ Decrease in Accounts payable $=$ $$5000$ Decrease in accrued expenses $=$ $$5000$ Depreciation on Equipment $=$ $$6000$ Full$-$time salaries $=$ $$120,000$ Depreciation on Processing$/$Shipping Facilities $=$ $$20,000$ Increase in Accounts receivable $=$ $$2500$ Land $=$ $$350,000$ Mortgage $=$ $$185,000$ Organic fruits and vegetables sales $=$ $$457,000$ Balance Sheet for Bernbeck Pumpkin Patch for the year ended December $31,2023$ $$$Assets Current Assets Cash$/$checking $$75,000$ Inventory $$75,000$ Total Current Assets Fixed assets Processing$/$Shipping Facilities$200000$ Less: Accumulated Depreciation$20000180000$ Equipment$60000$ Less: Accumulated Depreciation$600054000$ Total Fixed Assets $$584,000$Other Assets $$0$Total Assets Liabilities Current Liabilities Notes payable $0$ Accrued Expenses $8,750$ Advances $0$ Total Current Liabilities $$33,750$Long$-$Term Liabilities Other $$0$ Total Long$-$Term Liabilities $$185,000$Total Liabilities $$218,750$Owner's Equity Owner$-$Invested Capital: Common Stock $$179,974$ Retained Earnings $$385,276$ Total Owner's Equity Total Liabilities and Owner's Equity Income Statement for Bernbeck Pumpkin Patch for the year ended December $31,2023$Sales: Pumpkin Patch sales$63,000$Gross Sales Less Returns, Allowances, and Discounts$20,000$Net Sales Cost of Goods Sold: Pumpkin Patch$13,500$Total Cost of Goods Sold Gross Profit $($Margin$)$ Operating Expenses: Part$-$time salaries$26,520$Office supplies$/$expenses$740$Promotion$8,500$Insurance$13,200$Delivery$/$Freight$24,300$Utility$16,300$Miscellaneous expenses$3,025$ Total Operating Expenses Net Operating Income$181,465$Other Revenue$5,000$Interest Expense$16,765$Net Income Before Taxes Taxes$43,368$Net Income After Taxes Financial Ratios $(12$ points$)$:$1.$ Calculate the gross margin ratio from the above financial statements. $2.$ Calculate the current ratio for the above financial statements. $3.$ Calculate the quick ratio for the above financial statements. $4.$ Discuss the difference between the current ratio and the quick ratio. Breakeven Analysis $(12$ points$)$:$1.$ If fixed costs are $$850,000,$ the selling price is $$10/$unit and variable cost is $$6/$unit$,$ then breakeven in dollars is: $2.$ If fixed costs are $$850,000,$ the selling price is $$10/$unit$,$ variable cost is $$6/$unit and the firm wants to make $$150,000$ in profit, the breakeven in units is: $3.$ If fixed costs are $$390,000,$ variable costs are $75\%$ of net sales, and the company wants to reduce the price by $1\%,$ how many additional sales will they need to breakeven?