The income statement and balance sheet are the primary reports that a firm constructs for use by management and for distribution to stockholders, regulatory bodies, and the general public. They are the primary sources of historical financial information about the firm. Dayton Products Inc. is a moderate-sized manufacturer. The company's man- agement has asked you to perform a detailed financial statement analysis of the firm. The income statements for the years ending December 31, 2019 and 2018, respectively, are presented in the following table. Annual Income Statements (Values in Millions) For the year ended December 31, 2019 December 31, 2018 Sales $178,909 $187,510 Cost of goods sold 109,701 111,631 Selling, general, and administrative expenses 12,356 12,900 Other tax expense 33,572 33,377 Depreciation and amortization 12,103 7,944 3,147 Other income (add to EBIT to arrive at EBT) 3,323 398 293 Interest expense 21% 21% Income tax rate $1.15 $0.91 Dividends paid per share Basic EPS from total operations $1.64 $2.87 and 2010, 100 Annual Balance Sheets (Values in Millions) Cash Receivables Inventories Other current assets Property, plant, and equipment, gross Accumulated depreciation and depletion Other noncurrent assets Accounts payable Short-term debt payable Other current liabilities Long-term debt payable Deferred income taxes Other noncurrent liabilities Retained earnings Total common shares outstanding December 31, 2019 $ 9,090 21,163 8,068 1,831 204,960 110,020 19,413 13,792 4,093 15,290 6,655 16,484 21,733 76,458 6.7 billion December 31, 2018 $ 6,547 19,549 7,904 1,681 187,519 97,917 17,891 22,862 3,703 3,549 7,099 16,359 16,441 73,161 6.8 billion CO DO 1. Create a spreadsheet similar to Table 3.1 to model the following: (1) A multiple-step comparative income statement for Dayton Inc. for the peri- ods ending December 31, 2019 and 2018. You must calculate the cost of goods sold for the year 2019. (2) A common-size income statement for Dayton Inc, covering the years 2019 and 2018. . Create a spreadsheet similar to Table 3.2 to model the following: (1) A detailed, comparative balance sheet for Dayton Inc. for the years ended December 31, 2019 and 2018. (2) A common-size balance sheet for Dayton Inc. covering the years 2019 and 2018. - Create a spreadsheet similar to Table 3.10 to perform the following analysis. (1) Create a table that reflects both 2019 and 2018 operating ratios for Daytou Inc., segmented into (a) liquidity, (b) activity, (c) debt, (d) profitability, and (e) market. Assume that the current market price for the stock is $90. (2) Compare the 2019 ratios to the 2018 ratios. Indicate whether the results "outperformed the prior year" or "underperformed relative to the prior year