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Read the case information provided on page 50 of the text for Sunset Boards, Inc. Prepare the six items listed (You do not have to
Read the case information provided on page 50 of the text for Sunset Boards, Inc. Prepare the six items listed (You do not have to answer the questions at the bottom of the page). Be sure to organize your information into a professional format Income Statement for 2015 and 2016-4 points Balance Sheet for 2015 and 2016-4 points Operating Cash Flow schedule for 2015 and 2016 4 points Cash flow from assets for 2016-2 points 2 points Cash flow to creditors for 2016 Cash flow to stockholders for 2016 2 points Format & Professionalism-2 points 2015 2016 Cost of goods sold $203,963 $257,528 29,429 Cash 31,267 Depreciation 57,576 65,076 Interest expense 12,530 14,345 40,110 Selling and administrative expenses 52,351 Accounts payable 52,015 57,708 Net fixed assets 316,825 254,017 Sales 400,111 487,712 Accounts receivable 20,854 27,050 23,708 Notes payable 25,885 Long-term debt 128,218 143,97 Inventory 43,884 60,222 New equity 24,192 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 Jameson's assistant, and he has asked you to prepare the following: 1. An income statement for 2015 and 2016. 2. A balance sheet for 2015 and 2016. 3. Operating cash flow for each year. 4. Cash flow from assets for 2016. 5. Cash flow to creditors for 2016. 6. Cash flow to stockholders for 2016
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