READ THROUGH THE FOLLOWING MINI CASE FROM THE END OF CHAPTER 2 AND COMPLETE THE FINANCIAL STATEMENTS USING THE ATTACHED TEMPLATE.
1.An income statement for 2020 and 2021
2.A Balance sheet for 2020 and 2021
3.Operating cash flow for each year
4.Cash flow from assets for 2021
5.Cash flow to creditors for 2021
6.Cash flow to stockholders for 2021
Here's the Template to fill out the financial statement
Cash Flows and Financial Statements at Sunset Boards, Inc. Sunset Boards, Inc., is a small company that manufactures and sells surfboards in Malibu. Tad Marks, the founder of the company, is in charge of the design and sale of the surfboards, but his background is in surfing, not business. As a result, the company's financial records are not well maintained. The initial investment in Sunset Boards was provided by Tad and his friends and family. Because the initial investment was relatively small, and the company has made surfboards only for its own store, the investors haven't required detailed financial statements from Tad. But thanks to word of mouth among professional surfers, sales have picked up recently, and Tad is considering a major expansion. His plans include opening another surfboard store in Hawaii, as well as supplying his "sticks" (surfer lingo for boards) to other sellers. Tad'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 Tad has previously prepared. At the urging of his investors, Tad has hired financial analyst Christina Jennings to evaluate the performance of the company over the past year. After rooting through old bank statements, sales receipts, tax returns, and other records, Christina has assembled the following information: Chapter 2 Cash Flows and Financial Statements at Sunset Boards Input area: Output area: 2021 Income Statement Balance Sheet as of Dec. 31,2020 Balance Sheet as of Dec. 31, 2021 \begin{tabular}{|lcccc|} \hline Operating cash flow & $ & 2020 & 2021 \\ \hline \end{tabular} Capital spending Change in net working capital Cash flow from assets Cash flow to creditors Cash flow to stockholders Cash Flows and Financial Statements at Sunset Boards, Inc. Sunset Boards, Inc., is a small company that manufactures and sells surfboards in Malibu. Tad Marks, the founder of the company, is in charge of the design and sale of the surfboards, but his background is in surfing, not business. As a result, the company's financial records are not well maintained. The initial investment in Sunset Boards was provided by Tad and his friends and family. Because the initial investment was relatively small, and the company has made surfboards only for its own store, the investors haven't required detailed financial statements from Tad. But thanks to word of mouth among professional surfers, sales have picked up recently, and Tad is considering a major expansion. His plans include opening another surfboard store in Hawaii, as well as supplying his "sticks" (surfer lingo for boards) to other sellers. Tad'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 Tad has previously prepared. At the urging of his investors, Tad has hired financial analyst Christina Jennings to evaluate the performance of the company over the past year. After rooting through old bank statements, sales receipts, tax returns, and other records, Christina has assembled the following information: Chapter 2 Cash Flows and Financial Statements at Sunset Boards Input area: Output area: 2021 Income Statement Balance Sheet as of Dec. 31,2020 Balance Sheet as of Dec. 31, 2021 \begin{tabular}{|lcccc|} \hline Operating cash flow & $ & 2020 & 2021 \\ \hline \end{tabular} Capital spending Change in net working capital Cash flow from assets Cash flow to creditors Cash flow to stockholders
