Sunset Boards currently pays out 50 percent of net income as dividends to Tad and other original investors, and it has a 20 percent tax rate. You are Christinas assistant, and she has asked you to prepare the following: A balance sheet flow for each year.

2010 2011

Cost of goods sold 163,849 206,886

cash 23,643 35,721

Depreciation 46,255 52,282

Interest Expense 10,056 11,526

Selling and administrative 32,223 42,058

Accounts payable 41,786 47,325

Net fixed assests 204,068 248,625

Sales 321,437 391,810

Accounts receivable 16,753 21,732

Notes payable 19,046 20,796

Long-term debt 103,006 116,334

Inventory 32,255 43,381

new equity 0 20,500