Assets SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2017 2017 2018 2018 Current assets Cash receivable Current liabilities Accounts $ 34,685 17,951 $ 38,112 Accounts payable $ 37,092 $ 42,732 Inventory 3,700 28,036 42,752 Notes payable 19,308 Other 20,134 16,425 24,874 Total $ 56,336 $108,900 Total $ 76,534 $ 84,031 Long-term debt $116,500 $ 179,379 Owners' equity Common stock and paid-p $55,300 $ 55,300 surplus Accumulated retained 272,552 310,273 earnings Fixed assets Net plant and equipment $464,550 $520,083 Total $327,852 $365,573 Total liabilities and owners' Total assets $520,886 $628,983 $520,886 $628,983 equity SMOLIRA GOLF CORP. 2018 Income Statement $507,954 360,378 44,838 Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (23%) $ 102,738 19,983 $ 82,755 19,034 Net income $ 63,721 Dividends $26,000 Retained earnings 37721 Prepare the 2018 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) SMOLIRA GOLF CORP. SMOLIRA GOLF CORP. Statement of Cash Flows Cash, beginning of the year Operating activities For 2018 Net cash from operating activities Investment activities Net cash from investment activities Financing activities Net cash from financing activities Cash, end of year