3. Last year Sun Skateboards had $80,000 in current assets (20%cash, 30% accounts receivable, 40% inventory and 10% pre-paid expenses); $47,000 in current liabilities and $25,000 in long term debt. It had $61,000 in fixed assets. Determine the amount of shareholders equity and construct a balance sheet for Sun Skateboards.

4. Last year, Sun Skateboards had $50,000 in operating cash flow, $45,000 in financing cash flow and $30,000 in investing cash flow. Paid $44,000 to employees, $15,000 for rent, $5000 for utilities, $15,000 in dividends, Generate a statement of cash flows for Sun Skateboards.