MINI—CASECash 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 financial records are not well maintained. The initial investment in Sunset Boards was provided by Tad and his friends and family. Since the initial investment was relatively small, and the company has only made surfboards for its own store, the investor have not 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 Christina Wolfe to evaluate the performance of the company over the past year.After rooting through old bank statements, sales receipts, tax returns, and other records, Christina has assembled the following information:20051224182113730936682024886280031473352318401285912305701502862812000 Sunset Boards currently pays out 30 percent of net income as dividends to Tad and the other original investors, and has a 20 percent tax rate,. You are Christina’s assistant, and she asked you to prepare the following:1, An income statement for 2004 and 2005.2, A balance sheet for 2004 and 2005.3, Operating cash flow for each year.4 Cash flow from assets for 2005.5, Cash flow to creditors for 2005.6, Cash flow to stockholders for 2005.Questions1, How would you describe Sunset Boards’ cash flow for 2005? Write up a brief discussion.