In this assignment, you will be creating a cash flow statement based on the Wicked Good Cupcakes income statement and balance sheet. Instructions: Using the Income Statement and Balance Sheet provided in Unit 2, generate a Cash Flow Statement. You may have to make some assumptions in the process; list them in a comment column of your Cash Flow Statement. Summarize your findings and observations. What is your analysis of their current profit vs. cash situation? Are they in danger of running out of cash? What are your findings? Explain. What does their, as Warren Buffet, refers, owning earnings (free cash flow) look like

Annual Income Statement (\$ Thousands, except per share) Annual Income Statement (\$ Thousands, except per share)