Using the operating Assumptions below, titled operating Assumptions the green boxes in the following 4 questions , which are also labeled, Q1, Q2, Q3, Q4.(The Balance Sheet and Income Sheet, is just extra infro if needed for the questions)

Please clearly Show what formula is being put in each cell on excel for the answer. Please start all the way at A, so it's not confusing.

Q1.

Q2.

Q3.

Q4.

Operating Assumptions: Sales will grow at 7% per year in the next 5 years. Cost of sales will be 67% of total sales in the next 5 years. SG&A will be 17% of total sales in the next 5 years. Annual Depreciation and Amortization increases by 60 in each of the next 5 years. Capital expenditure (CapEx) will be 1,200 in each of the next 5 years. Income Statement Assumptions: Interest and investment income is 2.5% of the ending Cash & Short-Term Investments in the previous year. Interest rate on debt is 5% based on the ending ST Debt & Curr. Portion LT Debt and Long-Term Debt in the previous year. Tax rate is assumed to be 21%. 1,184 million common shares outstanding. Dividend payout ratio = 50% Working Capital Assumptions In the next 5 years, AR to Sales ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, Inventory to COGS ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, Other current assets to Sales ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, AP to COGS ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, Income Tax Payable to Sales ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, Other current liabilities to Sales ratio remains the same as that in the most recent fiscal year (FY2017). Assets Assumptions: Intangible assets grows at the same rate as sales (7%) in the next 5 years Deferred tax assets grows at the same rate as sales (7%) in the next 5 years Other assets grows at the same rate as sales (7%) in the next 5 years Deferred tax liabilities grows at the same rate as sales (7%) in the next 5 years Other liabilities grows at the same rate as sales (7%) in the next 5 years Debt Assumptions Short-term debt increases by 2% in each year. Long-term debt decreases by 8% each year. Balance Sheet All figures in millions of U.S. Dollar except per share items. FY2015 FY2016 FY2017 Assets Cash & Short-Term Investments Short-Term Receivables Inventories Other Current Assets Total Current Assets Property and equipment, at cost Accumulated depreciation and amortization Net Property, Plant & Equipment Intangible Assets Deferred Tax Assets Other Assets Total Assets 2,216 1,890 11,809 1,078 16,993 39,266 17,075 22,191 2,665 48 652 42,549 2,538 2,029 12,549 608 17,724 40,426 18,512 21,914 2,093 91 1,144 42,966 3,595 1,952 12,748 638 18,933 41,414 19,339 22,075 2,275 119 1,127 44,529 1,252 7,000 25 Liabilities & Shareholders' Equity ST Debt & Curr. Portion LT Debt Accounts Payable Income Tax Payable Other Current Liabilities Total Current Liabilities Long-Term Debt Deferred Tax Liabilities Other Liabilities Total Liabilities Common Equity Total Shareholders' Equity Total Equity Total Liabilities & Shareholders' Equity 427 6,565 36 5,498 12,526 20,888 854 1,965 36,233 6,316 6,316 6,316 42,549 5,856 14,133 22,349 296 1,855 38,633 4,333 4,333 4,333 42,966 2,761 7,244 54 6,135 16,194 24,267 440 2,174 43,075 1,454 1,454 1,454 44,529 Income Statement All figures in millions of U.S. Dollar except per share items. Net sales Cost of goods sold Gross profit Selling, general and administrative (SG&A) Depreciation and amortization Operating income (EBIT) Interest and investment income Interest expense Pre-Tax Income Income taxes Net earnings / loss FY2015 FY2016 FY2017 88,519 94,595 100,904 -58,254 -62,282 -66,548 30,265 32,313 34,356 -16,801 -17,132 -17,864 -1,690 -1,754 -1,811 11,774 13,427 14,681 166 36 74 -919 -972 -1,057 11,021 12,491 13,698 -4,012 -4,534 -5,068 7,009 7,957 8,630 1. Calculate the following measures for fiscal years 2015, 2016, and 2017:(1) profit margin, (2) ROA, (3) ROE, (4) debt- to-equity ratio, (5) accounts receivable days, (6) days inventory outstanding, (7) accounts payable days. FY2015 FY2016 FY2017 Profit margin ROA ROE Debt-to-equity ratio Accounts receivable days Days inventory outstanding Accounts payable days 2. Create projected income statements for years 2018, 2019, 2020, 2021, and 2022 based on the historical financial statements as well as the information provided in the Assumptions worksheet. FY2015 FY2019 FY2020 FY2021 FY2022 Net sales Cost of goods sold Gross profit Selling, general and administrative (SG&A) Depreciation and amortization Operating income (EBIT) Interest and investment income 88,519 -58,254 30,265 -16,801 -1,690 11,774 166 FY2016 FY2017 FY2018 94,595 100,904 -62,282 -66,548 32,313 34,356 -17,132 -17,864 -1,754 -1,811 13,427 14,681 36 74 -972 -1,057 12,491 13,698 -4,534 -5,068 7,957 8,630 -919 Interest expense Pre-Tax Income Income taxes Net earnings / loss 11,021 -4,012 7,009 3. Create projected balance sheet for years 2018, 2019, 2020, 2021, and 2022 based on the historical financial statements as well as the information provided in the Assumptions worksheet. ***Hint: Working capital accounts may be calculated based on the working capital ratios in FY2017 (See Working Capital Assumptions). ***Hint: Cash account information may be obtained based on the completed cash flow statement (Q4). FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 Assets Cash & Short-Term Investments 2,216 2,538 3,595 Short-Term Receivables 1,890 2,029 1,952 Inventories 11,809 12,549 12,748 Other Current Assets 1,078 608 638 Total Current Assets 16,993 17,724 18,933 Property and equipment, at cost 39,266 40,426 41,414 Accumulated depreciation and amortization 17,075 18,512 19,339 Net Property, Plant & Equipment 22,191 21,914 22,075 Intangible Assets 2,665 2,093 2,275 Deferred Tax Assets 48 91 119 Other Assets 652 1,144 1,127 Total Assets 42,549 42,966 44,529 Liabilities & Shareholders' Equity ST Debt & Curr. Portion LT Debt Accounts Payable Income Tax Payable Other Current Liabilities Total Current Liabilities Long-Term Debt Deferred Tax Liabilities Other Liabilities Total Liabilities Common Equity Total Shareholders' Equity Total Equity Total Liabilities & Shareholders' Equity 427 1,252 2,761 6,565 7,000 7,244 36 25 54 5,498 5,856 6,135 12,526 14,133 16,194 20,888 22,349 24,267 854 296 440 1,965 1,855 2,174 36,233 38,633 43,075 6,316 4,333 1,454 6,316 4,333 1,454 6,316 4,333 1,454 42,549 42,966 44,529 4. Create projected statements of cash flows based on the projected income statement and balance sheet information. FY2018 FY2019 FY2020 FY2021 FY2022 Operating Activities Net Income Depreciation and amortization Short-Term Receivables Inventories Other Current Assets Deferred Tax Assets Other Assets Accounts Payable Income Tax Payable Other Current Liabilities Deferred Tax Liabilities Other Liabilities Cash Flow from Operations Investing Activities Property and equipment, at cost Intangible Assets Cash Flow from Investments Financing Activities ST Debt & Curr. Portion LT Debt Long-Term Debt Dividend Payout Cash Flow From Financing Net Increase (Decrease) in Cash Operating Assumptions: Sales will grow at 7% per year in the next 5 years. Cost of sales will be 67% of total sales in the next 5 years. SG&A will be 17% of total sales in the next 5 years. Annual Depreciation and Amortization increases by 60 in each of the next 5 years. Capital expenditure (CapEx) will be 1,200 in each of the next 5 years. Income Statement Assumptions: Interest and investment income is 2.5% of the ending Cash & Short-Term Investments in the previous year. Interest rate on debt is 5% based on the ending ST Debt & Curr. Portion LT Debt and Long-Term Debt in the previous year. Tax rate is assumed to be 21%. 1,184 million common shares outstanding. Dividend payout ratio = 50% Working Capital Assumptions In the next 5 years, AR to Sales ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, Inventory to COGS ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, Other current assets to Sales ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, AP to COGS ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, Income Tax Payable to Sales ratio remains the same as that in the most recent fiscal year (FY2017). In the next 5 years, Other current liabilities to Sales ratio remains the same as that in the most recent fiscal year (FY2017). Assets Assumptions: Intangible assets grows at the same rate as sales (7%) in the next 5 years Deferred tax assets grows at the same rate as sales (7%) in the next 5 years Other assets grows at the same rate as sales (7%) in the next 5 years Deferred tax liabilities grows at the same rate as sales (7%) in the next 5 years Other liabilities grows at the same rate as sales (7%) in the next 5 years Debt Assumptions Short-term debt increases by 2% in each year. Long-term debt decreases by 8% each year. Balance Sheet All figures in millions of U.S. Dollar except per share items. FY2015 FY2016 FY2017 Assets Cash & Short-Term Investments Short-Term Receivables Inventories Other Current Assets Total Current Assets Property and equipment, at cost Accumulated depreciation and amortization Net Property, Plant & Equipment Intangible Assets Deferred Tax Assets Other Assets Total Assets 2,216 1,890 11,809 1,078 16,993 39,266 17,075 22,191 2,665 48 652 42,549 2,538 2,029 12,549 608 17,724 40,426 18,512 21,914 2,093 91 1,144 42,966 3,595 1,952 12,748 638 18,933 41,414 19,339 22,075 2,275 119 1,127 44,529 1,252 7,000 25 Liabilities & Shareholders' Equity ST Debt & Curr. Portion LT Debt Accounts Payable Income Tax Payable Other Current Liabilities Total Current Liabilities Long-Term Debt Deferred Tax Liabilities Other Liabilities Total Liabilities Common Equity Total Shareholders' Equity Total Equity Total Liabilities & Shareholders' Equity 427 6,565 36 5,498 12,526 20,888 854 1,965 36,233 6,316 6,316 6,316 42,549 5,856 14,133 22,349 296 1,855 38,633 4,333 4,333 4,333 42,966 2,761 7,244 54 6,135 16,194 24,267 440 2,174 43,075 1,454 1,454 1,454 44,529 Income Statement All figures in millions of U.S. Dollar except per share items. Net sales Cost of goods sold Gross profit Selling, general and administrative (SG&A) Depreciation and amortization Operating income (EBIT) Interest and investment income Interest expense Pre-Tax Income Income taxes Net earnings / loss FY2015 FY2016 FY2017 88,519 94,595 100,904 -58,254 -62,282 -66,548 30,265 32,313 34,356 -16,801 -17,132 -17,864 -1,690 -1,754 -1,811 11,774 13,427 14,681 166 36 74 -919 -972 -1,057 11,021 12,491 13,698 -4,012 -4,534 -5,068 7,009 7,957 8,630 1. Calculate the following measures for fiscal years 2015, 2016, and 2017:(1) profit margin, (2) ROA, (3) ROE, (4) debt- to-equity ratio, (5) accounts receivable days, (6) days inventory outstanding, (7) accounts payable days. FY2015 FY2016 FY2017 Profit margin ROA ROE Debt-to-equity ratio Accounts receivable days Days inventory outstanding Accounts payable days 2. Create projected income statements for years 2018, 2019, 2020, 2021, and 2022 based on the historical financial statements as well as the information provided in the Assumptions worksheet. FY2015 FY2019 FY2020 FY2021 FY2022 Net sales Cost of goods sold Gross profit Selling, general and administrative (SG&A) Depreciation and amortization Operating income (EBIT) Interest and investment income 88,519 -58,254 30,265 -16,801 -1,690 11,774 166 FY2016 FY2017 FY2018 94,595 100,904 -62,282 -66,548 32,313 34,356 -17,132 -17,864 -1,754 -1,811 13,427 14,681 36 74 -972 -1,057 12,491 13,698 -4,534 -5,068 7,957 8,630 -919 Interest expense Pre-Tax Income Income taxes Net earnings / loss 11,021 -4,012 7,009 3. Create projected balance sheet for years 2018, 2019, 2020, 2021, and 2022 based on the historical financial statements as well as the information provided in the Assumptions worksheet. ***Hint: Working capital accounts may be calculated based on the working capital ratios in FY2017 (See Working Capital Assumptions). ***Hint: Cash account information may be obtained based on the completed cash flow statement (Q4). FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 Assets Cash & Short-Term Investments 2,216 2,538 3,595 Short-Term Receivables 1,890 2,029 1,952 Inventories 11,809 12,549 12,748 Other Current Assets 1,078 608 638 Total Current Assets 16,993 17,724 18,933 Property and equipment, at cost 39,266 40,426 41,414 Accumulated depreciation and amortization 17,075 18,512 19,339 Net Property, Plant & Equipment 22,191 21,914 22,075 Intangible Assets 2,665 2,093 2,275 Deferred Tax Assets 48 91 119 Other Assets 652 1,144 1,127 Total Assets 42,549 42,966 44,529 Liabilities & Shareholders' Equity ST Debt & Curr. Portion LT Debt Accounts Payable Income Tax Payable Other Current Liabilities Total Current Liabilities Long-Term Debt Deferred Tax Liabilities Other Liabilities Total Liabilities Common Equity Total Shareholders' Equity Total Equity Total Liabilities & Shareholders' Equity 427 1,252 2,761 6,565 7,000 7,244 36 25 54 5,498 5,856 6,135 12,526 14,133 16,194 20,888 22,349 24,267 854 296 440 1,965 1,855 2,174 36,233 38,633 43,075 6,316 4,333 1,454 6,316 4,333 1,454 6,316 4,333 1,454 42,549 42,966 44,529 4. Create projected statements of cash flows based on the projected income statement and balance sheet information. FY2018 FY2019 FY2020 FY2021 FY2022 Operating Activities Net Income Depreciation and amortization Short-Term Receivables Inventories Other Current Assets Deferred Tax Assets Other Assets Accounts Payable Income Tax Payable Other Current Liabilities Deferred Tax Liabilities Other Liabilities Cash Flow from Operations Investing Activities Property and equipment, at cost Intangible Assets Cash Flow from Investments Financing Activities ST Debt & Curr. Portion LT Debt Long-Term Debt Dividend Payout Cash Flow From Financing Net Increase (Decrease) in Cash