Sunset Boards currently pays out 40 percent of net income as dividends to Tad and the other original investors, and it has a 21 percent tax rate. You are Christina's assistant, and she has asked you to prepare the following:

how do i make an income statement for 2017-2018

Cash Flows and Financial Statements at Sunset Boards, Inc. Sunset Boards 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 compa- ny's nancial records are not well maintained. The initial investment in Sunset Boards was provided by Ted 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 nancial 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 open- ing another surfboard stone in Hawaii, as well as supplying his \"sticks\" (surfer lingo for boards) to other sellers. Tad's expansion plans require a signicant investment, which he plans to nance with a combination of additional funds from outsiders plus some money borrowed from banks. Naturally, the new investors and creditors require more orga nized and detailed financial statements than Tad has previously prepared. At the urging of his investors, Tad has hired finan- cial analyst Christina Wolfe 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: Cost of goods sold $255,605 Cash 36.884 72.158 15.687 50,263 26.186 318.345 501.441 26.136 23,712 160.689 50.318 $322,742 55,725 81,559 17,930 65,610 44,318 387,855 61 1.224 33.901 32.441 175,340 67.674 19,500 Depreciation Interest expense Selling and adminlstrative Accounts payable Net xed assets Sales Accounts receivable Notes payable Long-term debt Inventory New equlty O