Assets 2017 2018 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities 38,112 Accounts payable $ 37,092 28,036 Notes payable 19,308 42,752 Other 20,134 $ Current assets Cash Accounts receivable Inventory $ 42,732 $ 34,685 17,951 3,700 16,425 24,874 Total $ 56,336 $ 108,900 Total $ 76,534 $ 84,031 Long-term debt $ 116,500 $ 179,379 $ 55,300 $ 55,300 Owners' equity Common stock and paid-in surplus Accumulated retained earnings 272,552 310,273 Fixed assets Net plant and equipment $464,550 $520,083 Total $ 327,852 $365,573 Total assets $520,886 $628,983 Total liabilities and owners' equity $520,886 $628,983 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation $507,954 360,378 44,838 $ 102,738 Earnings before interest and taxes Interest paid 19,983 Taxable income Taxes (23%) $ 82,755 19,034 Net income $ 63,721 Dividends Retained earnings $26,000 37,721 Prepare the 2018 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) SMOLIRA GOLF CORP. Statement of Cash Flows For 2018 Cash, beginning of the year Operating activities Net cash from operating activities Investment activities Net cash from investment activities Financing activities Net cash from financing activities Cash, end of year