You also have the following balance sheet information as of December 31, 2019 and 2018, respectively. Annual Balance Sheets (Values in Millions) December 31, 2019 December 31. 2018 $ 6,547 19,549 Cash $9,090 21,163 8,068 Receivables Inventories Other current assets 7,904 1,831 Property, plant, and equipment, gross Accumulated depreciation and depletion Other noncurrent assets 1,681 187,519 97,917 204,960 110,020 19,413 13,792 17,891 Accounts payable Short-term debt payable 22,862 4,093 3,703 Other current liabilities 3,549 7,099 16,359 16,441 15,290 Long-term debt payable Deferred income taxes 6,655 16,484 Other noncurrent liabilities 21,733 Retained earnings 76,458 73,161 Total common shares outstanding 6.7 billion 6.8 billion TO DO a. 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. b. 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. c. 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 Dayton 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." The income statement and balance sheet are the primary reports that a firm constr a for use by management and for distribution to stockholders, regulatory bodies, a agement has asked you to perform a detailed financial statement analysis of theb the firm. Dayton Products Inc. is a moderate-sized manufacturer. The company's general public. They are the primary sources of historical financial information a and firm and 201 respectively, are presented in the following table. Annual Income Statements (Values in Millions) For the year ended December 31, 2018 December 31, 2019 $187,510 $178,909 109,701 111,631 Sales 12,900 12,356 Cost of goods sold Selling, general, and administrative expenses Other tax expense Depreciation and amortization Other income (add to EBIT to arrive at EBT) Interest expense 33,377 33,572 7,944 12,103 3,147 3,323 398 293 21% 21% Income tax rate $1.15 $0.91 Dividends paid per share Basic EPS from total operations $1.64 $2.87 ma