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QUESTION
Sunset Boards currently pays out 50 percent of net income as dividends to Tad and the other original investors, and has a 20 percent tax rate.
Sunset Boards currently pays out 50 percent of net income
as dividends to Tad and the other original investors,
and has a 20 percent tax rate. You are Jameson’s
assistant, and he has asked you to prepare the
following:
1. An income statement for 2015 and 2016.
2. A balance sheet for 2015 and 2016.
3. Operating cash flow for each year.
4. Cash flow from assets for 2016.
5. Cash flow to creditors for 2016.
6. Cash flow to stockholders for 2016.
Chapter 2Cash Flows and Financial Statements at Sunset BoardsInput area: 2015Cost of goods soldCashDepreciationInterest expenseSelling & AdministrativeAccounts payableFixed assets...