Cash Flow and Financial Statements at Madry, Inc. Madry is a small company that manufactures and sells surfboards in Rodway. Michael has hired financial analyst Sara to evaluate the performance of the company over the past year. After rooting through old bank returns, and other records, Sara has assembled the following information:The company currently pays out 40 percent of net income as dividends to Michael and the other original investors, and it has a 30 percent tax rate. You are Sara's assistant, and she has asked you to explore the financial statements of the company reports to prepare the following

Prepare:

1. An income statement for 2020 and 2021. (1.5marks )

2. A balance sheet for 2020 and 2021. (1.5marks )

3. Operating cash flow for each year. (1.5marks )

4. Cash flow from assets for 2021. (1.5marks )

5. Cash flow to creditors for 2021. (1mark)

\begin{tabular}{|lrr|} \hline & 2020 & 2021 \\ \hline Cost of goods sold & $306,726 & $387,290 \\ Cash & 44,261 & 66,870 \\ Depreciation & 86,590 & 97,871 \\ Interest expense & 18,824 & 21,576 \\ Selling and administrative & 60,322 & 78,732 \\ Accounts payable & 31,423 & 53,181 \\ Net fixed assets & 382,014 & 465,426 \\ Sales & 601,729 & 733,469 \\ Accounts receivable & 31,363 & 40,681 \\ Notes payable & 35,654 & 38,929 \\ Long-term debt & 192,827 & 210,408 \\ Inventory & 60,382 & 81,209 \\ New equity & 0 & 23,400 \\ \hline \end{tabular}