Chapter CHAR ) Fancial Seatments, Taman Cash Flow 201 ASE and Financial Statements at Sunset Boards, Inc. ssets ash ccounts Receivable iventory otal Current Assets xed Assets otal Assets mall company that manufactures 2018 2019 ds in Malibu. Tad Marks, the is in charge of the design and Cost of goods sold 5224,359 $283,231 but his background is in surfing, 32,372 34.394 sult, the company's financial Depreciation 63,334 71.584 Interest expense stained 13,703 15,780 Selling and administrative 44.121 57.586 nt in Sunset Boards was pro ds and family. Because the ini Accounts payable 57.220 63.479 vely small, and the company Net fixed assets 279.419 348.508 For its own store, the investors Sales 440,122 536,483 nancial statements from Tad. Accounts receivable 22,939 29,755 th among professional surf- Notes payable 26.079 28.474 Long-term debt 141.040 158,36B cently, and Tad is consider Inventory 48.272 66,244 is plans include opening New equity 0 27,157 "awall, as well as supplying Sards) to other sellers equire a significant invest- Sunset Boards currently pays out 50 percent of net ce with a combination of income as dividends to Tad and the other original inves- tors and has a 21 percent tax rate. You are Jameson's -s plus some money bor- the new investors and assistant, and he has asked you to prepare the following: ed and detailed financial Hously prepared. At the 1 An income statement for 2018 and 2019 hired financial analyst 2. A balance sheet for 2018 and 2019. erformance of the com- 3. Operating cash flow for each year. k statements, sales re- 4. Cash flow from assets for 2019 ords, Jameson has as- 5. Cash flow to creditors for 2019. 6. Cash flow to stockholders for 2019 ales osts of Goods SC iross Profit elling & Admin Depreciation Operating Inco nterest Exper axable Incor axes Jet Income set Boards's cash2. In light of your discussion in the previous question, scussion what do you think about Tad's expansion plans