Data for financial renorts and analvsis Sunshine Company is engaged in purchase and sale of surfboards. Ted Ma, the founder of the company, is in charge of the design and sale of surfboards. His background is in surfing, not business. The production of surfboard is consigned to a contractor in China that is based on the design of Ted Ma. The initial investment in the company was provided by Ted Ma and his family. Because the initial investment was relatively small, and the company has operated one sales outlet in Clearwater Bay. Ted Ma always responds to customers' enquiries about surfing free of charge in his sales outlet that is very helpful to his business. Sunshine's sales are increasing recently, and Ted is considering a major expansion to a bigger beach in Lantau Island. Ted's expansion plans require a significant investment, which he plans to finance with a combination of additional funds from outsiders plus some money borrowed from banks. Naturally, the new investors and creditors require more organized and detailed financial statements than Ted has previously prepared. At the urging of his investors, Ted has hired an accountant, Christina, to evaluate the performance of the company over the past year. Sunshine currently pays out $30,000 as dividends to shareholders during 2021& 2022 respectively, and it has a 20% tax rate. The income tax will be paid in the coming month after the year end. The company had a new shareholder who paid $20,000 at the end of 2022 . After checking the old bank statements, sales receipts, tax returns, and other records, Christina has assembled the following information shown on page 2 . Required: (a) Prepare the following financial reports: (i) An income statement for 2021 and 2022 (two columns) (ii) A balance sheet for 2021, for 2022 (iii) A statement of Sources and Uses of Cash (b) How would you describe the company's cash flows for 2022? Write a brief discussion. (c.)In light of your discussion in the previous questions, what do you think about Ted's expansion plans