1 | Sunset Boards |
| 2010 Income Statements |
| $ (Thousands) |
| | |
| Net Sales | $321,437.00 |
| COGS | $(163,849.00) |
| S&A | $(32,223.00) |
| Depreciation | $(46,255.00) |
| EBIT | $79,110.00 |
| Interest | $(10,056.00) |
| Taxable Income | $69,054.00 |
| Tax (20%) = 13,810.2 | $(13,810.80) |
| Net Income | $55,243.20 |
| | |
| Retained Earnings | $27,621.60 |
| Dividents | $27,621.60 |
| | |
| Sunset Boards | |
| 2011 Income Statements | |
| $ (Thousands) | |
| | |
| Net Sales | $391,810.00 |
| COGS | $(206,886.00) |
| S&A | $(42,058.00) |
| Depreciation | $(52,282.00) |
| EBIT | $90,584.00 |
| Interest | $(11,526.00) |
| Taxable Income | $79,058.00 |
| Tax (20%) = 15,811.6 | $(15,811.60) |
| Income | $63,246.40 |
| | |
| Retained Earnings (2010) | $27,621.60 |
| Retained Earnings (2011) | $31,623.20 |
| Total Retained Earnings | $59,244.80 |
| | |
| | |
| Dividends | $31,623.20 |
2 | Sunset Boards Inc |
| Balance Sheet of 2010 |
| Assets | 2010 | 2011 |
| Current Assets | | |
| Cash | $23,643.00 | $35,721.00 |
| Accounts Receivable | $16,753.00 | $21,732.00 |
| Inventory | $32,255.00 | $43,381.00 |
| Total | $72,651.00 | $100,834.00 |
| | | |
| Fixed Assets | | |
| Net Fixed Assets | $204,068.00 | $248,625.00 |
| Total Assets | $276,719.00 | $349,459.00 |
| | | |
| | | |
| Liabilities and Owner's Equity | 2010 | 2011 |
| Current Liability: | | |
| Accounts Payable | $42,786.00 | $47,325.00 |
| Notes Payable | $19,046.00 | $20,796.00 |
| Total | $60,832.00 | $68,121.00 |
| | | |
| Long-term Debt: | $103,006.00 | $116,334.00 |
| | | |
| Owner's Equity | $85,259.40 | $105,759.40 |
| Retained Earnings | $27,621.60 |…