saw it's Your Turn.. Ise the Strategie Profit Model Flow Worksheets provided on the following page 1 complete the following two scenarios: Scenario 3 Scenario 4 Income Statement Sales Income Statement Sales Gross Sales $800,000 $1,400,000 Gross Sales Prmotional Allowances $75,000 Pemotional Allowances $150,000 Customer Returns -$45,000 -$110.000 Customer Returns Total Net Sales Total Net Sales Cost of Goods Sold Cost of Goods Sold COGS $850,000 $600,000 COGS Total COGS Total COGS Gross Margin Gross Margin Expenses Expenses Selling. General & Admir $145,000 Selling. General & Admir $120,000 Financing $6,500 $5,000 Financing Total Expenses Total Expenses Net Profit Before Tax (EBT) Net Profit Before Tax (EBT) Tax Rate 35% Tax Rate 35% Total Taxes Total Taxes Net Profit After Tax Net Profit After Tax Scenario 3 Scenario 4 Balance Sheet Balance Sheet Assets Liabilities Assets Liabilities Current Assets Current Liabilities Current Assets Current abilities Accounts Receivable $50,000 Accounts Payable $150.000 Accounts Receivable $400,000 Accounts Payable $200,000 Merchandise inventory $200.000 Short Term Loan $10,000 Merchandise Inventory $1,000,000 Short Term Loan $10.000 $15,000 Total Current abilities $160,000 Cash $10,000 Total Current Liabilities $210,000 Other Current Assets $2.000 Other Current Assets $3.000 Total Current Assets Long Term Liabilities Total Current Assets Long Term Liabilities Mortgage $80.000 Mortgage $40,000 Fixed Assets Bonds $3.500 Fixed Assets Bonds $2,800 Building $100,000 Total Long Term Liabilitle $83,500 Building $225,000 Total Long Term Liabilitie $42,800 Equipment $20,000 Equipment 595,000 Other Fixed Assets $3,000 Total Liabilities $243,500 Other Fixed Assets $15,000 Total abilities $282,800 Depreciation som Depreciation -$10,000 Total Fixed Assets Owners Equity Total Fixed Assets Owners Equity Owners Equity $138,500 Owners Equity $1,485,200 Total Assets Total Liabilities and Owners' Equity $382,000 Total Assets Total abilities and Owners' Equity $1,738,00 13P Scenario 3 + + + Scenario 4 + 141 neod her important Metrics Use the information in the table below to calculate the following metrics 2011 02 125.00 01 $100.000 Inventory S 03 105.000 04 $95.000 Net Sales COGS Gross Profit Margin % 2011 S 2,000,000 $ 1,200,000 $ 800,000 Average Inventory - Inventory Turnover - Advantage of High Turnover Disadvantages of too High Turnover 15 Pag