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Assets 2018 Current assets Cash Accounts receivable Inventory Total EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Liabilities and Owners' Equity 2017 2018 2017 Current liabilities $ 24,046 $ 24, 255 Accounts payable $ 23,184 12, 448 15,235 Notes payable 12,000 25, 392 27,155 Other 11,571 $ 61,886 $ 66,645 Total $ 46, 755 Long-term debt $ 80,000 Owners' equity $324,695 $365,734 Common stock and paid-in surplus $ 40,000 Retained earnings 219,826 Total $ 259,826 $386,581 $432,379 Total liabilities and owners' equity $386,581 $ 27,420 10,800 15,553 $ 53,773 $ 95,000 Fixed assets Net plant and equipment $ 40,000 243,606 $283.606 $432,379 Total assets EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income Sales $366,996 Cost of goods sold 253, 122 Depreciation 32,220 Earnings before interest and taxes $ 81,654 Interest paid 14,300 Taxable income $ 67,354 Taxes (35) 23,574 Net income $ 43,780 Dividends $ 20,000 Additions to retained earnings 23,780 Prepare the 2018 statement of cash flows for Earl Grey Golf Corp. (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) 24,046 Net income 43,780 32,220 4,236 3,982 (2,787) EARL GREY GOLF CORP. Statement of Cash Flows for 2018 Cash, beginning of the year $ Operating activities $ Add: Depreciation $ Add: Increase in accounts payable Add: Increase in other current liabilities Less: Increase in accounts receivable $ Less: Increase in inventory Net cash from operating activities $ Investment activities Fixed asset acquisition $ Net cash from investment activities $ Financing activities Increase in long-term debt $ Dividends paid Decrease in notes payable (1,763) 78,468 (73,259) (73,259) 15,000 (20,000) (1,200) $ 80,000 $ 95,000 Fixed assets Net plant and equipment $324, 695 $365,734 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ 40,000 219,826 $259,826 $386,581 $ 40,000 243, 606 $283.606 $432,379 Total assets $386,581 $432,379 EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income Sales $366,996 Cost of goods sold 253,122 Depreciation 32,220 Earnings before interest and taxes $ 81,654 Interest paid 14,300 Taxable income $ 67,354 Taxes (35%) 23,574 Net income $ 43,780 Dividenda $ 20,000 Additions to retained earnings 23,780 Prepare the 2018 statement of cash flows for Earl Grey Golf Corp. (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) 24,046 43,780 32,220 4.236 3,982 (2,787) EARL GREY GOLF CORP. Statement of Cash Flows for 2018 Cash, beginning of the year $ Operating activities Net income $ Add: Depreciation $ Add: Increase in accounts payable Add: Increase in other current liabilities Less: Increase in accounts receivable $ $ Less: Increase in inventory : Net cash from operating activities $ Investment activities Fixed asset acquisition $ Net cash from investment activities $ Financing activities Increase in long-term debt $ Dividends paid Decrease in notes payable (1,763) 78,468 (73,259) (73,259) 15,000 (20,000) (1,200) X Net cash from financing activities This is a numeric cell, so please enter numbers only. . Net decrease in cash Cash, end of year $ 24,255