Cash Flows and Financial Statements at Sunset Boards,Inc.
Prepare Income Statement for 2017 and 2018.
Prepare Balance Sheet for 2017 and 2018.
Prepare Cash Flow for each year.
A 1 Sunset Boards, Inc 2 2017 2018 3 Cost of goods sold $255,605 $322,742 4 Cash 36,884 55,725 5 Depreciation 72,158 81,559 6 Interest expense 15,687 17,980 7 Selling and administrative 50,268 65,610 8 Accounts payable 26,186 44,318 9 Net fixed assets 318,345 387,855 10 Sales 501,441 611,224 11 Accounts receivable 26,136 33,901 12 Notes payable 29,712 32,441 13 Long-term debt 160,689 175,340 14 Inventory 50,318 67,674 15 New equity 0 19,500 19,500 16 17 **Pays 40% of net income as dividends 18 **Has a 21% tax rate 19 20 6 Sunset Boards, Inc Income Statement 2017 4. Net Sales $501,441 5 COGS $255,605 6 Gross Profit $245,836 7 Selling and Administrative expenses $50,268 8 Depreciation Expense $72,158 9 EBIT $123,410 10 Interest Paid $15,687 11 Income before taxes $107,723 12 Income Tax $22,622 13 Net Income $85,101 2018 $611,224 $322,742 $288,482 $65,610 $81,559 $141,313 $17,980 $123,333 $25,900 $97,433 2018 55725 33901 67674 157300 387855 545155 Sunset Boards, Inc Balance Sheet 3 Assets 2017 4. Cash 36884 5 Accounts Recieveable 26136 6 Inventory 50318 7 Total Current Assets 113338 8 Net Fixed Assets 318345 9 Total Assets 431683 10 11 Liabilities and Equity 12 Accounts Payable 26186 13 Notes Payable 29712 14 Total Current Liabilities 55898 15 Long Term Debt 160689 16 Total Liabilities 216587 17 Common Stock 18 Retained Earnings 19 Total Stockholders' Equity 20 Total Liabilities and Stockholders' equity 44318 32441 76759 175340 252099 21 4 EBIT 5 Add: Depreciation 6 Less: Taxes 7 Operating Cash Flows Operating Cash Flows 2017 123,410.00 72,158.00 22,621.83 172,946.17 $ $ $ $ 2018 141,313.00 81,559.00 25,899.93 196,972.07 Cash Flow from Assets for 2018 151,069.00 10 Net Capital Spending ws 11 12 Ending Net Working Capital 13 Beginning Net working Capital 14 Changes in NWC 80,541.00 57,440.00 23,101.00 15 16 Operating Cash Flow 17 Net Capital Spending 18 Changes in NWC 19 Cash Flow from Assets 20 196,972.07 151,069.00 23,101.00 22,802.07 21 22 Interest Paid 23 Net New Borrowing 24 Cash Flow to Creditors Cash Flow to Creditors for 2018 17,980.00 14,651.00 3,329.00 25 26 Cash Flow to Stockholders for 2018 27 Dividends Paid 38,973.23 28 Net New Equity Raised 29 Cash Flow to Stockholders 30 A 1 Sunset Boards, Inc 2 2017 2018 3 Cost of goods sold $255,605 $322,742 4 Cash 36,884 55,725 5 Depreciation 72,158 81,559 6 Interest expense 15,687 17,980 7 Selling and administrative 50,268 65,610 8 Accounts payable 26,186 44,318 9 Net fixed assets 318,345 387,855 10 Sales 501,441 611,224 11 Accounts receivable 26,136 33,901 12 Notes payable 29,712 32,441 13 Long-term debt 160,689 175,340 14 Inventory 50,318 67,674 15 New equity 0 19,500 19,500 16 17 **Pays 40% of net income as dividends 18 **Has a 21% tax rate 19 20 6 Sunset Boards, Inc Income Statement 2017 4. Net Sales $501,441 5 COGS $255,605 6 Gross Profit $245,836 7 Selling and Administrative expenses $50,268 8 Depreciation Expense $72,158 9 EBIT $123,410 10 Interest Paid $15,687 11 Income before taxes $107,723 12 Income Tax $22,622 13 Net Income $85,101 2018 $611,224 $322,742 $288,482 $65,610 $81,559 $141,313 $17,980 $123,333 $25,900 $97,433 2018 55725 33901 67674 157300 387855 545155 Sunset Boards, Inc Balance Sheet 3 Assets 2017 4. Cash 36884 5 Accounts Recieveable 26136 6 Inventory 50318 7 Total Current Assets 113338 8 Net Fixed Assets 318345 9 Total Assets 431683 10 11 Liabilities and Equity 12 Accounts Payable 26186 13 Notes Payable 29712 14 Total Current Liabilities 55898 15 Long Term Debt 160689 16 Total Liabilities 216587 17 Common Stock 18 Retained Earnings 19 Total Stockholders' Equity 20 Total Liabilities and Stockholders' equity 44318 32441 76759 175340 252099 21 4 EBIT 5 Add: Depreciation 6 Less: Taxes 7 Operating Cash Flows Operating Cash Flows 2017 123,410.00 72,158.00 22,621.83 172,946.17 $ $ $ $ 2018 141,313.00 81,559.00 25,899.93 196,972.07 Cash Flow from Assets for 2018 151,069.00 10 Net Capital Spending ws 11 12 Ending Net Working Capital 13 Beginning Net working Capital 14 Changes in NWC 80,541.00 57,440.00 23,101.00 15 16 Operating Cash Flow 17 Net Capital Spending 18 Changes in NWC 19 Cash Flow from Assets 20 196,972.07 151,069.00 23,101.00 22,802.07 21 22 Interest Paid 23 Net New Borrowing 24 Cash Flow to Creditors Cash Flow to Creditors for 2018 17,980.00 14,651.00 3,329.00 25 26 Cash Flow to Stockholders for 2018 27 Dividends Paid 38,973.23 28 Net New Equity Raised 29 Cash Flow to Stockholders 30
