2020 2021 Assets Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2020 2021 Liabilities and Owners' Equity Current liabilities $ 35,685 $39,032 Accounts payable 18.451 28,936 Notes payable 4,000 43,152 Other $ 38,992 $ 43,232 20,308 17,175 21,034 25,674 Total $ 58.136 $ 111,120 Total $ 80,334 $ 86,081 Long-term debt $ 121,500 $ 185,476 Owners' equity Common stock and pald-in surplus $ 56,300 $ 56,300 Accumulated retained earnings 265,702 304.846 Fixed assets Net plant and equipment $ 465,700 $ 521,583 Total $ $361146 322.002 Total assets $ 523,836 5 632,703 Total liabilities and owners' equity $ 523,836 632,703 SMOURA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation $512,954 363,878 46.088 GTB Ch 3 Homework Assig LVELUT JUULCHICTIL 2 Sales Cost of goods sold Depreciation $ 512,954 363,878 46,088 9.09 $ 102,988 points Earnings before interest and taxes Interest paid 20,983 eBook Taxable income Taxes (23%) $ 82,005 18,861 Print References Net income $ 63,144 Dividends Retained earnings $ 24,000 39,144 Prepare the 2021 statement of cash flows for Smolira Golf Corp. (Ne answers should be indicated by a minus sign.) SMOLIRA GOLF CORPORATION Statement of Cash Flows For 2021 Cash, beginning of the year Operating activities Net income Add: Depreciation Me Graw Statement of Cash Flows For 2021 Cash, beginning of the year Operating activities Net income Add: Depreciation Less: Increase in accounts receivable Less: Increase in inventory Add: Increase in accounts payable Add: Increase in other current liabilities Net cash from operating activities Investment activities Fixed asset acquisition Net cash from investment activities Financing activities Dividends paid Increase in long-term debt Decrease in notes payable Net cash from financing activities Net Increase in cash Cash, end of year aw 1