Unique transaction data for Gary Roberts Pty Ltd Pat Verbeek plans to begin his consulting business as a proprietary company (Pat Verbeek Pty Ltd) on 1 January 2022. He has provided projected data for the first 36 months of operations. Pat expects to pay income taxes of 35% on the company's profits six months after each year-end. No taxes if the company incurrs a loss for the year. REQUIRED: COMPLETE THE PROJECTED FINANCIAL STATEMENTS FOR EACH OF THE 3 YEARS. PROVIDE VALUES IN EACH OF THE ENTRY CELLS ON THE 9 FINANCIAL STATEMENT WORKSHEETS. Note: EFT = Electronic Funds Transfer Transaction 01-January-2022 Open business bank account with transfer of personal funds $430,000 01-January-2022 EFT for rental of office space. Immediate occupancy. 60 months at $4000 per month. $240,000 01-January-2022 Office equipment purchased for cash to get discount from the retail price of $56,000. $50,000 01-January-2022 Office equipment to be replaced in 4 years. Expect to get $5,000 for old equipment. $5,000 03-January-2022 Bank loan approved and credited to account. Payable in 2025 $240,000 13-February-2022 Credit sales. EFT payment to be received in 90 days. $67,000 20-February-2022 Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. $5,900 08-March-2022 Cash sales. $49,000 15-March-2022 Purchased supplies on credit from Office Works. $37,000 12-December-2022 Credit sales. EFT payment to be received in 90 days. $41,000 27-December-2022 Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. $6.490 31-December-2022 Recorded estimate for electricity expense. Bill not yet received. $8,800 31-December-2022 Count of supplies revealed showed amount on hand at year-end of ... $14,800 16-February-2023 Credit sales. EFT payment to be received in 90 days. $40,500 22-February-2023 Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. $6,200 27-February-2023 Cash sales. $81,000 17-March-2023 Purchased supplies on credit from Office Works. $42.000 18-March-2023 Used excess cash to make partial repayment on bank loan. $48,500 15-December-2023 Credit sales. EFT payment to be received in 90 days. $37,500 31-December-2023 Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. $6,820 31-December-2023 Recorded estimate for electricity expense. Bill not yet received. $9,680 31-December-2023 Count of supplies revealed showed amount on hand at year-end of ... $16,800 22-February-2024 Credit sales. EFT payment to be received in 90 days. $97.000 26-February-2024 Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. $8,100 16-March-2024 Paid Office Works account in full. $79,000 01-March-2024 Used excess cash to make partial repayment on bank loan. $39,500 23-March-2024 Cash sales. $44,000 20-December-2024 Credit sales. EFT payment to be received in 90 days. $40,000 28-December-2024 Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. $8,910 31-December-2024 Received bill for electricity. For three years !!! Pat thought he was never going to get billed. $29,040 31-December-2024 Count of supplies revealed showed amount on hand at year-end of ... $3,360 Gary Roberts Pty Ltd Income Statement for the year ending 31 December 2023 ENTRY Consulting services revenue Expenses Office space rent Depreciation - Office equipment Wages Supplies Electricity ENTRY ENTRY ENTRY ENTRY ENTRY Total expenses ENTRY Profit before income tax expense Income tax expense (35%) Profit after tax ENTRY ENTRY ENTRY Please note that some of the alc's provided above may not require values. Unused ENTRY cells MUST be replaced with a 0 (zero) amount. Gary Roberts Pty Ltd Balance Sheet as at 31 December 2023 ASSETS Current Assets Cash Accounts receivable Supplies Prepaid rent Total current assets ENTRY ENTRY ENTRY ENTRY ENTRY Non-Current Assets Prepaid rent Office equipment & furniture Accumulated depreciation Net book value - office equip & furniture Total non-current assets Total Assets ENTRY ENTRY ENTRY ENTRY ENTRY ENTRY LIABILITIES Current Liabilities Accounts payable Income tax payable Wages payable Electricity payable Total current liabilities ENTRY ENTRY ENTRY ENTRY ENTRY Non-Current Liabilities Bank loan Total non-current liabilities Total Liabilities ENTRY ENTRY ENTRY EQUITY Contributed capital Retained earnings Total Equity ENTRY ENTRY ENTRY Total Liabilities and Equity ENTRY Gary Roberts Pty Ltd Statement of Cash Flows for the year ending 31 December 2023 Cash flows from operating activities Receipts from customers Payment for rental of office space Payments to employees Payment for supplies Payment for electricity Payment for income tax Net cash provided from operating activities ENTRY ENTRY ENTRY ENTRY ENTRY ENTRY ENTRY Cash flows from investing activities Purchase of office equipment and furniture Net cash provided from investing activities ENTRY ENTRY Cash flows from financing activities Contribution by owner Proceeds from bank loan Repayment of bank loan Net cash provided from financing activities ENTRY ENTRY ENTRY ENTRY Net increase in cash Cash at beginning of the financial year Cash at end of the financial year ENTRY ENTRY ENTRY Please note that some of the alc's provided above may not require values. Unused ENTRY cells MUST be replaced with a 0 (zero) amount. Financial Statement Analysis (FSA) for 2023 for Pat Verbeek Pty Ltd Provide formulas or values for each of the following three ratios. Don't worry about formatting. Cell reference if you want. Ratio #1: Ratio #2: Ratio #3: Accounts receivable settlement (days) Return on assets Quick ratio ENTRY ENTRY ENTRY