the opperating budget is shown below

C - BALANCE SHEET

NOTE: If you cannot get your balance sheet to balance, add a line item in the appropriate section titled Plug for the amount needed.

Presented on the template provided is Crossleys projected balance sheet at 12/31/18. Prepare a budgeted balance sheet at 12/31/19 next to it, then answer the following questions in the space below your balance sheets. Label your answers, but the amounts themselves should be calculated by formulas that include cell references:

What is the budgeted return on investment (round your answer to the nearest one percent)?

If the company has established a minimum required rate of return of 22% for Crossley, what is budgeted residual income (round your answer to the nearest dollar)?

If the CEO of Crossley has set a target ROI of 28%, how many units would the company have to sell for the year (round your answer to the nearest whole unit)?

please show the work and cell references.

operating expenses

AutoSave O 8 CROSSLEY BUDGET PROIEC File Home Insert DrawPage Layout Formulas Data Rex X Out Clio 11 AA BTV - B formate O A FEE wa Ted Merge & Center - $ % 8.99 Conditional Formata Formatting Table 1 2018 SALES 2 2019 SALES 3 2000 SALES 4 SALES PRICE 204000 244800 $ 210 6 SALES BUDGET 8 UNITS 9 SALES PRICE 10 Budgeted revenue QTRI OTR 2 QTR OTRA YR 40800 61200 1400 30000 204000 210 210 210 210 210 3568000 12052000 14994000 6420000 42840000 01-2020 22.2020 48980 73440 204000 30000 4896 96 12 PRODUCTION BUDGET 13 Budgeted sale 14 Howed 15 Total needs 16 Blon hand 17 Total production round 40800 6120 46920 3440 430 61200 7140 10 6120 69220 7 1.400 3000 7400 7140 67320 56.304 000 32438 205458 51400 43480 19 MATERIALS PURCHASES BUDGET 20 Budgeted production 21 Sld feet per unit 22 Table for production 222067320 32436 205456 51408 514080 24 Totalfoet needed 434000 92330 528130 55000 473130 622200 673200 TOBO 48854 723100 721854 93330100580 2000 620874 324360 2054560 77112 77112 401472 2131672 45 55000 352818 2070672 26 Tot to be purchased 28 Total cost of purchases 236568031492503104370 1764090 10383360 Income Statement Cash Budget Balance Sheet Operating Budgets Type here to search Search Help AutoSave O 2 File Home Insert 8 CROSSLEY BUDGET PRO Draw Page Layout Formulas Data Calibri 1 A A == BIU B OA General Wrap Text Merge & Center $ % 98 Poste Copy Format Painter Number 24 Total foet needed 25 -B1 26 Total feet to be purchased CDEFG 528130 723180 721854 401472 2131672 55000 93330 100980 48854 55000 473130 629850 620874 352818 2070672 5 5 5 5 5 2305650 31492503104370 1764090 10383360 27 $50 28 Total cost of purchases 43480 6222067320 32436 205456 30 DIRECT LABOR BUDGET 31 Production 32 Sid hours per unit 33 Total labor hours needed 34 $9.00/DLH 35 Total cost of direct labor 260880 373320 403920 194616 1232736 23479203359880 3635280 1751544 11094624 37 OVERHEAD BUDGET: 38 Total labor hours needed 39 $600/DLH 40 Total variable overhead 41 Fred overhead depreciation 42 Foed overhead-other 13 Total budgeted overhead 260880373320 403920 B 6 6 1565280 2239920 2423520 90000 30000 122500 524000 24000 524000 2179280 2853920 3070020 194616 1232736 6 6 1167696 7396416 122500 425000 524000 2096000 1814196 9917416 45 SELLING & ADMIN BUDGET 46 Variable soling commissions 3.50% 299800 449820 524790 224910 1499400 47 Fored song 850000 850000 850000 850000 3400000 48 Fixed admin 980000 900000 980000 980000 3920000 49 Depreciation-seling 75000 75000 75000 75000 300000 50 Depreciation-admin 120000 120000 120000 120000 480000 51 Total budgeted selling & admin cost 2324880 2474820 25497902249910 9599400 Operating Budgets Income Statement Cash Budget Balance Sheet Type here to search CROSSLEY COMPANY BALANCE SHEET AT DECEMBER 31 2019 2018 ASSETS 1625000 3069360 Cash Accounts receivable Inventory Raw materials Finished goods Property, plant and equipment, net Total Assets 275000 481600 756600 2939555 8390515 18 19 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Commissions payable Note payable Common stock, no par Retained earnings Total Liabilities and Stockholders' Equity 2600000 187425 1500000 2450000 1653090 83.90515 Operating Budgets Income Statement Cash Budget Balance Sheet Search Help AutoSave O 2 File Home Insert 8 CROSSLEY BUDGET PRO Draw Page Layout Formulas Data Calibri 1 A A == BIU B OA General Wrap Text Merge & Center $ % 98 Poste Copy Format Painter Number 24 Total foet needed 25 -B1 26 Total feet to be purchased CDEFG 528130 723180 721854 401472 2131672 55000 93330 100980 48854 55000 473130 629850 620874 352818 2070672 5 5 5 5 5 2305650 31492503104370 1764090 10383360 27 $50 28 Total cost of purchases 43480 6222067320 32436 205456 30 DIRECT LABOR BUDGET 31 Production 32 Sid hours per unit 33 Total labor hours needed 34 $9.00/DLH 35 Total cost of direct labor 260880 373320 403920 194616 1232736 23479203359880 3635280 1751544 11094624 37 OVERHEAD BUDGET: 38 Total labor hours needed 39 $600/DLH 40 Total variable overhead 41 Fred overhead depreciation 42 Foed overhead-other 13 Total budgeted overhead 260880373320 403920 B 6 6 1565280 2239920 2423520 90000 30000 122500 524000 24000 524000 2179280 2853920 3070020 194616 1232736 6 6 1167696 7396416 122500 425000 524000 2096000 1814196 9917416 45 SELLING & ADMIN BUDGET 46 Variable soling commissions 3.50% 299800 449820 524790 224910 1499400 47 Fored song 850000 850000 850000 850000 3400000 48 Fixed admin 980000 900000 980000 980000 3920000 49 Depreciation-seling 75000 75000 75000 75000 300000 50 Depreciation-admin 120000 120000 120000 120000 480000 51 Total budgeted selling & admin cost 2324880 2474820 25497902249910 9599400 Operating Budgets Income Statement Cash Budget Balance Sheet Type here to search BIU - A S Merge & Center $ nat Painter Alignment Font - X fx C D CROSSLET COMPANY BALANCE SHEET AT DECEMBER 31 2019 ASSETS 1035035 2249100 Cash Account Receivable Inventory Raw Material Finished Goods Property, Plant and equipment Total Assests 385560 3306560 3684555 10660810 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Commissions payable Note payable Common stock, no par Retained earning 3104370 524790 1100000 2450000 3481650 Sheet1 Type here to search Orte - 9 L