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Steven Black and Christopher Green are seeking funds to support the programmed growth of their deluxe Hot Dog menu-restricted restaurant. First year (2020) Sales were

Steven Black and Christopher Green are seeking funds to support the programmed growth of their deluxe Hot Dog menu-restricted restaurant. First year (2020) Sales were $360,000. Sales are projected to increase to $1,000,000 in 2021. The company used $400,000 in assets to set up the business and to support its 2020 operations. It expects to need $100,000 MORE (a total of $ 500,000) to support projected 2021 Sales. This asset structure is expected to be able to support Sales of up to $3,500,000. Assume 2020 operations were adversely affected by pandemic restrictions. 2020 2021 (projected) Sales $ 360,000 $1,000,000 Cost of Goods Sold (VC) 234,000 __________ Gross Profit 126,000 Fixed Operating Costs (ignore taxes) 225,000 __________ Net Profit/Loss $ (99,000) $ Prepare (fill in) the 2021 projected Income Statement above. (Assume Variable Costs per $1 of Sales and projected Fixed Costs dont change)(1 point) Calculate the companys Return on Assets (ROA), its asset intensity (asset turnover ratio), and its Gross Profit and Net Profit Margins for each year (3 points)

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