Provide a cash flow statement for Mountain State Sporting Goods

Exhibit 7A-2 Mountain State Sporting Goods Balance Sheet Analysis 2002 2003 2004 2005 2006 2007 2008 Assets Current Assets Cash 72,963 169,025 60,540 65,057 204,032 214.046 38.220 236,681 54,162 264,575 82,803 281,147 63,904 296,776 Inventory 241,988 264,572 279,103 274,901 318,737 363,950 360,680 Tot Current Assets Fixed Assets Equipment 43,996 47,124 (36,904) 49,735 (42,729) 64.642 (54.376) 80,118 (60,236) 83,498 (66,824) 123,498 (73,358) Accumulated (31,497) Deprec. 12,499 10,220 7.006 10.266 19,882 16,674 50,140 Net Fixed Assets Other Assets 1,2531,2531,253 1.253 1,253 1,2531,253 $255,740 $276,045 $287,362 $286,420 $339,872 $381,877 $412,073 Assets Total Liabilities & Equity Current Liabilities 4.879 5 .560 15,843 30.190 49,169 51,789 Payroll Taxes Payable 10.901 12.199 12.456 13,802 16,593 18,410 Sales Tax Payable 12.821 Other Current Liabilities Tot 12,821 15,780 17,75928,299 43,992 65,762 70,199 Current Liabilities 110186 89,690 67,056 24,534 34,441 44,441 42,579 Long-Term Debt 123,007 105,470 84,815 52.833 78,433 110,203 112,778 Total Liabilities Equity 1,000 1,000 1.000 1.000 1.000 1.000 1.000 Capital Stock 131,733 169,575 201.547 232,587 260,439 270,674 298,295 Retained Earnings 132,733 170,575 202,547 233,587 261,439 271,674 299,295 Equity $255,740 $276,045 $287,362 $286,420 $339,872 $381,877 $412,073 Total Liabilities & Equity Exhibit 7A-1 Mountain State Sporting Goods Operational Analysis 2003 2004 2005 2006 2007 2008 $1,793,346 $1,863,321 2,007,185 52,195,901 $2,339,496 52,513,47 Gross Receipts COGS (1,476,447) (1,533,750) (1,642,210) (1,761,292) (1,926,462) (2,080,909 316,899 329,571 364.975 434,609 413,034 432,570 Gross Profit Operating Expenses 60,000 60,000 65,000 65,000 50,000 50,000 Officers Comp. 68,002 91,927 110,907 139,723 157,320 161,315 Salaries & Wages 1,177 602 2,620 1.297 1,268 1,769 Repairs & Maint Rent 12,000 12,000 24,000 24.000 23,000 43,085 24,000 45,711 24.065 27,868 50,232 54,543 Taxes & Licenses Depreciation 5,407 5,824 11,647 5.860 6,588 6,534 Advertising 1,941 2,658 5,653 4.216 18,778 27,512 Delivery 9,353 10,831 12,669 Insurance 13,121 16,903 10,337 19,287 4.168 11.155 25,089 3.940 12,241 32,609 2,736 38,149 1,205 1,839 3,115 Misc Expense Office Exp. 479 357 613 1.040 3,656 4,350 Postage 1,310 316 2,185 2,372 409 2.248 2.773 847 3,320 Supplies 932 1992 3.374 1,082 1.670 2,021 Telephone 3.188 2,933 3,667 Utilities 5,841 5.4676 ,372 7.198 7,246 1,587 3,097 11,550 24,192 771 698 Outside Services Travel 2,224 3,319 3,541 3.126 5,217 6,051 Tot 211,275 248,122 325,135 367.845 378,245 404,949 Operating Exp. 105,624 81,449 39,840 66,764 34,789 27,621 Operating Income Other Income (Exp.) 6,730 Interest Income (7,928) (5,789) (2.731) (1.648) Interest Expense (7.928) (5.789) (2.731) 5.082 Tot. Other Income (Exp.) Net Income $97,696 $75,660 $37,109 $71,846 $34,789 $27,621 Exhibit 7A-2 Mountain State Sporting Goods Balance Sheet Analysis 2002 2003 2004 2005 2006 2007 2008 Assets Current Assets Cash 72,963 169,025 60,540 65,057 204,032 214.046 38.220 236,681 54,162 264,575 82,803 281,147 63,904 296,776 Inventory 241,988 264,572 279,103 274,901 318,737 363,950 360,680 Tot Current Assets Fixed Assets Equipment 43,996 47,124 (36,904) 49,735 (42,729) 64.642 (54.376) 80,118 (60,236) 83,498 (66,824) 123,498 (73,358) Accumulated (31,497) Deprec. 12,499 10,220 7.006 10.266 19,882 16,674 50,140 Net Fixed Assets Other Assets 1,2531,2531,253 1.253 1,253 1,2531,253 $255,740 $276,045 $287,362 $286,420 $339,872 $381,877 $412,073 Assets Total Liabilities & Equity Current Liabilities 4.879 5 .560 15,843 30.190 49,169 51,789 Payroll Taxes Payable 10.901 12.199 12.456 13,802 16,593 18,410 Sales Tax Payable 12.821 Other Current Liabilities Tot 12,821 15,780 17,75928,299 43,992 65,762 70,199 Current Liabilities 110186 89,690 67,056 24,534 34,441 44,441 42,579 Long-Term Debt 123,007 105,470 84,815 52.833 78,433 110,203 112,778 Total Liabilities Equity 1,000 1,000 1.000 1.000 1.000 1.000 1.000 Capital Stock 131,733 169,575 201.547 232,587 260,439 270,674 298,295 Retained Earnings 132,733 170,575 202,547 233,587 261,439 271,674 299,295 Equity $255,740 $276,045 $287,362 $286,420 $339,872 $381,877 $412,073 Total Liabilities & Equity Exhibit 7A-1 Mountain State Sporting Goods Operational Analysis 2003 2004 2005 2006 2007 2008 $1,793,346 $1,863,321 2,007,185 52,195,901 $2,339,496 52,513,47 Gross Receipts COGS (1,476,447) (1,533,750) (1,642,210) (1,761,292) (1,926,462) (2,080,909 316,899 329,571 364.975 434,609 413,034 432,570 Gross Profit Operating Expenses 60,000 60,000 65,000 65,000 50,000 50,000 Officers Comp. 68,002 91,927 110,907 139,723 157,320 161,315 Salaries & Wages 1,177 602 2,620 1.297 1,268 1,769 Repairs & Maint Rent 12,000 12,000 24,000 24.000 23,000 43,085 24,000 45,711 24.065 27,868 50,232 54,543 Taxes & Licenses Depreciation 5,407 5,824 11,647 5.860 6,588 6,534 Advertising 1,941 2,658 5,653 4.216 18,778 27,512 Delivery 9,353 10,831 12,669 Insurance 13,121 16,903 10,337 19,287 4.168 11.155 25,089 3.940 12,241 32,609 2,736 38,149 1,205 1,839 3,115 Misc Expense Office Exp. 479 357 613 1.040 3,656 4,350 Postage 1,310 316 2,185 2,372 409 2.248 2.773 847 3,320 Supplies 932 1992 3.374 1,082 1.670 2,021 Telephone 3.188 2,933 3,667 Utilities 5,841 5.4676 ,372 7.198 7,246 1,587 3,097 11,550 24,192 771 698 Outside Services Travel 2,224 3,319 3,541 3.126 5,217 6,051 Tot 211,275 248,122 325,135 367.845 378,245 404,949 Operating Exp. 105,624 81,449 39,840 66,764 34,789 27,621 Operating Income Other Income (Exp.) 6,730 Interest Income (7,928) (5,789) (2.731) (1.648) Interest Expense (7.928) (5.789) (2.731) 5.082 Tot. Other Income (Exp.) Net Income $97,696 $75,660 $37,109 $71,846 $34,789 $27,621