The following represents a condensed version of a firm's current and projected balance sheets, as well as a condensed version of their projected income statement. From the information given, please prepare a "formal Statement of Cash Flows" projected for the firm as of December 31, 2021. 2021 2020 2021 Cash $ 2,000 $ 1,600 Sales $100,000 Accts Receivable 12,000 5.200 CGS 80,000 Inventory 14.000 15,600 Gross Profit 20,000 Total Current Assets 28,000 22,400 Cash Expenses 8,000 Fixed Assets 27,000 20,000 Depreciation 1,600 Accum. Depreciation (16,000) (14,400) Amortization 1.500 Goodwill 20.500 22.000 EBIT 8,900 Total Assets $59.500 $50,000 Less-Interest 900 EBT 8,000 Accounts Payable $ 3,000 $ 2,500 Less - Taxes 3,200 Accrued Expense 1,000 1,500 Net Income $ 4,800 Notes Payable - Currently Due 4.000 3.000 Total Current Liabilities 8,000 7,000 Notes Payable - Non-Current 7,700 2,000 Common Stock 9,000 9,000 Retained Earnings 34.800 32.000 Total Liabilities & Capital $59.500 $50,000 Problem 2 Complete the projected Balance Sheet and Income Statement for Metza Metza, Ine at December 31, 2021. given the following information: (you must show step by step calculations. Also prepare a Common-size analysis of the Balance Sheet and Income Statement. What was their beginning Retained Earnings (actual account balance at January 1, 2021 given a planned 40% Dividend Payout on December 31, 2021? You may assume a 360 day year and 30 day months Equity Multiplier 2.0x Current Ratio 2.5.1 Cash 5.0% of Sales Quick Asset Ratio 1.3:1 Times Interest Earned 4.0x Gross Profit Rate 40.0% of Sales Marginal Tax Rate 50.0% Operating Expenses S140,000 + 10.0% of Sales Accounts Receivable Turnover 6.0x Accounts Payable $60,000.00 Return on Assets 3.75% Common Stock $100,000.00 Days Accounts Payable Outstanding 60 days Note: Operating expenses is comprised of both a fixed expense and a variable expense (referred to as a semi-variable expense). Also, all turnover ratios are based upon ending balances of the respective balance sheet accounts