Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cost of goods sold $169,969 214,607 Cash 24,524 26,056 Depreciation 47,980 54,230 Interest expense 10,442 11,954 Selling & administrative expenses 33,425 43,626 Accounts payable 43,344
Cost of goods sold | $169,969 | 214,607 |
Cash | 24,524 | 26,056 |
Depreciation | 47,980 | 54,230 |
Interest expense | 10,442 | 11,954 |
Selling & administrative expenses | 33,425 | 43,626 |
Accounts payable | 43,344 | 48,090 |
Net fixed assets | 211,680 | 264,021 |
Sales | 333,426 | 406,427 |
Accounts receivable | 17,378 | 22,542 |
Notes payable | 19,757 | 21,571 |
Long-term debt | 106,848 | 119,976 |
Inventory | 36,570 | 50,185 |
New equity | 0 | 20,160 |
Sunset Boards currently pays out 50 percent of net income as dividends to Tad and the other original investors, and has a 20 percent tax rate. You are Paulas assistant, and she has asked you to prepare the following:
1. An income statement for 2013 and 2014.
2. A balance sheet for 2013 and 2014.
3. Operating cash flow for each year.
4. Cash flow from assets for 2014.
5. Cash flow to creditors for 2014.
6. Cash flow to stockholders for 2014.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started