Finance Assignment | Homework Help Websites

CASE

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper

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 small, and the company has made surfboards only for its own store, the investors haven’t required detailed financial 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 opening another surfboard store in Hawaii, as well as supplying his “sticks” (surfer lingo for boards) to other sellers. Tad’s expansion plans require a significant investment, which he plans to finance with a combination of additional funds from outsiders plus some money borrowed from banks. Naturally, the new investors and creditors require more organized and detailed financial statements than Tad has previously prepared. At the urging of his investors, Tad has hired financial analyst Jameson Reid to evaluate the performance of the company over the past year. After rooting through old bank statements, sales receipts, tax returns, and other records, Jameson has assembled the following information:

2015 2016

Cost of goods sold   $203,963 $257,528

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper

Cash    29,429   31,267

Depreciation 57,576 65,076

Interest expense 12,530 14,345

Selling and administrative

Expenses:

40,110 52,351

Accounts payable 52,015 57,708

Net fixed assets 254,017  316,825

Sales 400,111 487,712

Accounts receivable  20,854 27,050

Notes payable 23,708   25,885

Long-term debt 128,218 143,971

Inventory 43,884   60,222

New equity    0 24,192

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 2015 and 2016 year.

For Part 1 you are to complete the income statement balance sheet, and the operating cash flow for 2015 and 2016. The Week 2 Assignment Excel template to use is located under “Learning Resources” in the Week 2 thread.

All of the gray answer cells must be filled in with numbers. Some of the gray cells will require using simple math in Excel correctly to compute the correct answer. All of the yellow answer cells must be filled in with the correct item name. Page 54 in the text show what items needed to be included when building an income statement and balance sheet. Page 34 shows the formula to use to calculate the operating cash flow.

Also, be sure to submit it as an Excel file. Do not copy it on a Word file because I need to see the formulas in some of the cells.

It is also very important to use Excel formulas in cells where you are conducting math using multiple cells to prove the answers and prevent errors. Also having the correct formula in cells when needed will spontaneously change cells below it to guarantee the correct answer if those cells have the correct formula as well. Without formula in those cells, they will remain “dead” and not spontaneously change when you change data in other cells. For your balance sheet, you want to calculate the asset side (left hand side) and then total liabilities from the right-hand side. Then place in the owner’s equity number that balances both sides. So, place in the owner’s equity number last after you have calculated the assets on the left-hand side and total liabilities on the right-hand side. Also, be sure to show your work for your operating cash flow calculations for 2015 and 2016.

Overall, for the income statement you will need to calculate EBIT, EBT, Taxes, Net Income, Dividends, and Addition to Retained Earnings. For the balance sheet you will need to calculate Current Assets, Current Liabilities, Total Assets, and Total Liabilities & Equity. Also, be sure to show your work for your operating cash flow calculations for 2015 and 2016.

 

Homework Help Websites

QUESTIONS

1. How would you describe Sunset Boards’ cash flows for 2016? Write a brief discussion.

2. In light of your discussion in the previous question, what do you think about Tad’s expansion plans?

Assignment: Case Analysis Part 2

Name:

Date:

Part 2:

Write a 250-word paper that addresses the following questions:

  • How would you best describe Sunset      Boards’ cash flows for 2015 and 2016? Write a brief discussion.
  • In light of your discussion in      the previous question, what do you think about Tad’s expansion plans?

Below are three UNRELATED EXAMPLES of how to cite within a paragraph in APA format. You need to cite resources in your Assignment to support and justify your thinking:

Haag and Cummings (2003) base their information on their experience and concepts of IT at the time, and…

The authors base their information on their experience and concepts of IT at the time, and… (Haag & Cummings, 2003).

The authors base their information on their experience and concepts of IT at the time. They stated that “…IT is the most important aspect that needs attention by upper management” (Haag & Cummings, 2003, p. 89).

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works

Here is how simple it is to make use of our essay writing services

step 1

Submit a "write my essay for me" request

Fill out a quick order form and provide detailed requirements as to the paper, its format, etc. You can even attach screenshots or add additional instructions later. If something has to be clarified or added, the writer will contact you directly.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Nursing
poor service
Customer 453627, January 24th, 2020
Psychology
Looks great.
Customer 463363, September 23rd, 2022
Other
The written work was crafted beautifully, and all of the given instructions were duly followed.
Customer 452455, July 4th, 2023
Other
Always proofread before submitting your work.
Customer 462815, April 6th, 2022
Education
Good work.
Customer 453707, March 27th, 2022
Computer science
Even though I received the paper on time, the person that I received the paper from kept telling that did submit the paper to me and there no link available to me to download and revise the paper until excessive close to the deadline. This is not good business, considering that there at least a week to write not to mention the support kept telling me that I was submitted when it wasnt...
Customer 452515, April 9th, 2020
Business Studies
Great
Customer 453413, February 27th, 2020
Education
excellent
Customer 463813, March 10th, 2023
Education
written to perfection. Thank you
Customer 463813, April 11th, 2023
Retail
Great services
Customer 463473, November 10th, 2022
Religious studies
This was well done thank you
Customer 452763, December 10th, 2021
Public Administration
N/a
Customer 453751, June 28th, 2020
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat