Use the below information to answer the following questions:

*Dividends = payout ratio x net income.

A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings).

B. Create the Balance Sheets for 2007 & 2008.

C. Create the statement of Cash Flows for 2008.

D. What is the CFFA for 2008?

Use the below information to answer the following questions: 2007		2008
Sales	$2870		$3080
Depreciation	413		413
Cost of goods sold	987		1121
Other Expenses	238		196
Interest	192		221
Cash	1505		1539
Accounts Receivables	1992		2244
Short-term Notes Payable	291		273
Long-term debt	5040		5880
Net fixed assets	12,621		12,922
Accounts Payable	1581		1533
Tax rate	34%		34%
Inventory	3542		3640
*Payout ratio	52%		52%