Oceanic Glory Boards Ltd (OGBL) is a small company that manufactures and sells surfboards in Gold Coast. Mark Rich, the founder of the company, is in charge of the design and sale of surfboards, but his background is in surfing not business. As a result, the companys financial records are not well-maintained.

Mark and his friends and family provided the initial investment into OGBL. Because the initial investment was relatively small, and the company has made surfboards only for its own store, the investors have not required detailed financial statements from Mark. However, thanks to word of mouth among professional surfers, sales have picked up recently, and Mark is considering a major expansion. His plans include opening another surfboard shop in Fiji, as well as supplying his boards to other sellers.

Marks 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 organised and detailed financial statements than Mark has previously prepared. At the urging of his investors, Mark has hired financial analyst Paul Macmillan to evaluate the performance of the company over the past year.

After looking through old bank statements, sales receipts, tax returns and other records Mark maintained, Paul has assembled the following information.

	2019	2020
Cost of sales	$224 359	$283 281
Cash	32 372	34 394
Depreciation	63 334	71 584
Finance cost	13 783	15 780
Distribution and administrative expenses	44 121	57 586
Accounts payable	57 220	63 479
Net non-current assets	279 419	348 508
Revenue	440 122	536 483
Accounts receivable	22 939	29 755
Notes payable	26 079	28 474
Non-current debt	141 040	158 368
Inventory	48 272	66 244
New equity	0	27 150

Oceanic Glory Boards Ltd currently pays out 50% of profit for the period as dividends to Mark and the other original investors, and has a 30% tax rate. Based on above information Paul asked your support to prepare a report.

In your report:

1. Prepare the following.
   1. A statement of profit or loss for 2020.
   2. A statement of financial position for 2020.
   3. Operating cash flow for 2020.
   4. Cash flow from assets for 2020.