All figures are in USD else otherwise | |||||
Income Statement | |||||
Particulars | 2017 | 2018 | |||
Sales | 501,441 | 611,224 | |||
Cost of goods sold | 255,605 | 322,742 | |||
Gross Profit | 245,836 | 288,482 | |||
Selling and admin exp | 50,268 | 65,610 | |||
Depreciation | 72,158 | 81,559 | |||
interest expense | 15,687 | 17,980 | |||
PBT | 107,723 | 123,333 | |||
Tax @ 21% | 22,622 | 25,900 | |||
PAT | 85,101 | 97,433 | |||
Dividend @ 40% of PAT | 34,040 | 38,973 | |||
T/f to retained earnings | 51,061 | 58,460 | |||
Balance sheet | |||||
Assets | 2017 | 2018 | Liabilities | 2017 | |
Current assets | Current liabilities | ||||
Cash | 36884 | 55725 | Accounts payable (AP) | 26186 | |
Inventory | 50318 | 67674 | Notes payable | 29712 | |
Accounts receivable (AR) | 26136 | 33901 | |||
Net fixed assets | 318345 | 387855 | Long term debt | 160689 | |
Common stock | 0 | ||||
Retained earnings opening - Balancing figure of 2017 | 164,035 | ||||
During the year - profit | 51,061 | ||||
Total | 431,683 | 545,155 | Total | 431,683 | |
Cash flow from operations | |||||
Particulars | 2018 | ||||
Net income before tax | 123,333 | ||||
Add:/(less) | Adjustments | ||||
Inventory increase | -17356 | ||||
AR increase | -7765 | ||||
AP increase | 18132 | ||||
Notes payable increase | 2729 | ||||
119,073 | |||||
Less: | income tax paid | (38,973) | |||
Cash flow from operations | 80,100 |
Please answer in excel and show the formulas. MINICASE Cash Flows and Financial Statements at Sunset...
MINICASE 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 financial records are not well maintained. After rooting through old bank statements, sales receipts, tax returns, and other records, Christina has assembled the following information:...
Please answer question 1 and 2 MINICASE 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 financial records are not well maintained. After rooting through old bank statements, sales receipts returns, and other records, Christina...
Please answer all questions from 1-6 MINICASE 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, tax returns, and other records, Christina has assembled the is in charge of the design and sale of the surfboards, but his following information: background is in surfing. not business. As a result, the compa- ny's financial records are not well maintained. After rooting...
Please answer 4 , 5 and 6 and question 1 and 2 MINICASE Cash Flows and Financial Statements at Sunset Boards, Inc. company that manufactures and sells After rooting through old bank statements, sales receipts other records, Christina has assembled the 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 financial records are not...
Cash Flow 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 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...
Please, calculate answers for parts 4, 5 and 6. Cash Flows and Financial Statements at Sunset Boards, Inc. Sunset Boards currently pays out 50 percent of net income as dividends to Tad and the other original investors, and it has a 20 percent tax rate. You are Christina's assistant, and she has asked you to prepare the following: 1. An income statement for 2010 and 2011. 2. A balance sheet for 2010 and 2011. 3. Operating cash flow for each...
Cash Flows and Financial Statements at Sunset Boards, Inc. Sunset Boards currently pays out 50 percent of net income as dividends to Tad and the other original investors, and it has a 20 percent tax rate. You are Christina's assistant, and she has asked you to prepare the following: 1. An income statement for 2010 and 2011. 2. A balance sheet for 2010 and 2011. 3. Operating cash flow for each year. 4. Cash flow from assets for 2011. 5....
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 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...
please complete #4-6 cash flow statements in a table format for the above case Cash Flows and Financial Statements at Sunset Boards, Inc. unset 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 company's financial records are not well maintained The initial investment in Sunset Boards was...
CHAPTER CASE 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 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...