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For the following Financial statements, assume that COGS isalways 70% of Sales, Interest Expense is

For the following Financial statements, assume that COGS isalways 70% of Sales, Interest Expense is

For the following Financial statements, assume that COGS isalways 70% of Sales, Interest Expense is always 10% of the previousyears long term debt, Depreciation is always 20% of the previousyears Net Fixed Assets, and taxes are always 40% of EBT.2010                      2011                      2012                      2013Net WorkingCapital                       1000                      1000                      1200                      1300Net Fixed Assets1500                                                      1600                      Long Term Debt2000                      2040                                                      2644Total Equity500                      460                      440                        4362010                      2011                      2012                      2013Sales2000                      XXXX                    3500COGS1400                                                      Depreciation300                      300                        320EBIT300                                                      730Interest204                        236EBT 494Taxes120                        198      NI 296Capital Expenditures400                        500Dividends100                        200                        300  You do not have to answer each question in order. Fill out thechart above first and then answer the questions. You do NOT need totry to figure out the 2010 Income Statement. There may be more thanone way to find the answersChoose the answer that is CLOSEST to the correct answer.1. What is 2012 Sales?           a.1820            b.2112                       c.2360           d. 26802. What is Return on Equity in 2011?           a.6%              b.9%              c.13%            d.17%            3. What is Additional Financing Needed in 2013? (Change in LTDfrom 2012 to 2013)           a.192              b.236             c.284             d.380              4. What is Capital Expenditures in 2011?           a.100             b.200             c.300              d.4005. What is the Fixed Asset Turnover in 2013?1.5           b.2                 c.2.5              d.3