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Sunset Boards currently pays out 40% of its net income as dividends to Tad and the other original investors, and it has a 30%
Sunset Boards currently pays out 40% of its net income as dividends to Tad and the other original investors, and it has a 30% tax rate. You are Christina's assistant, and she has asked you to prepare the following: 1) An income statement for 2014 and 2015. 2) A balance sheet for 2014 and 2015. 3) Operating cash flow for each year. 4) Cash flow from assets for 2015. 5) Cash flow to creditors for 2015. 6) Cash flow to stockholders for 2015. 7) Confirm that cash flow from assets (CFA) does indeed equal the sum of cash flow to creditors and cash flow to stockholders. That is, that the sources of CFA equals the uses of CFA. Cost of Goods Sold Cash Depreciation Interest Expense Selling and Administrative Expense Accounts Payable Net Fixed Assets Sales Accounts Receivable Notes Payable Long-term debt Inventory New Equity Raised from Stockholders 2014 $196,619 $ 248,263 28,372 $ 42,865 55,506 12,067 38,668 20,143 244,881 $385,724 $ $ $ $ $ $ 2015 S 20,104 $ 22,855 $ 123,607 S 38,706 S $ 62,738 $ 13,831 $ 50,469 $ 34,091 $ 298,350 $ 470,172 $ 26,078 $ 24,955 $ 140,000 $ 52,057 $ 15,000
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