The Lotus Company is preparing its pro forma financial statements for the next year using this model. The abbreviated Sales growth Tax rate 22% 21% Sales Costs Income Statement $ 880,000.00 465,000.00 Depreciation 112,500.00 Interest 88,000.00 Taxable income $ 214,500.00 Taxes 45,045.00 Net income $ 169,455.00 Dividends $ 30,000.00 Additions to retained earnings $ 139.455.00 Current assets Net fixed assets Total assets Assets Balance Sheet Liabilities and Equity $240,000.00 Total debt $1,350,000.00 Owners' equity $1,590,000.00 Total debt and equity $880,000.00 $710,000.00 $1,590,000.00 Note: Beginning Fixed Assets = $1,125,000 a. (40 Points) Calculate the necessary ratios and parameters needed for financial planning in preparation for constrcuting b. (40 Points) Construct the proforma financial statements (i.e., income statement and balance sheet) using the parameters Cost percentage Depreciation percentage Interest rate Tax rate Payout ratio Fixed assets/Total assets Profit Margin (Initial) Capital intensity ratio (40 Points) Construct the proforma financial statements (i.e., income statement and balance sheet) using the parameters you calculated. Your proforma balance sheet should balance. Lotus Company Pro forma Income Statement Sales Costs Depreciation Interest Taxable income Taxes Net income Dividends Additions to retained earnings Current assets Net fixed assets Total assets Assets Lotus Company Pro forma Balance Sheet Total debt Liabilities and Equity Owners' equity Total debt and equity