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Prepare the 2018 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) Some recent financial statements for
Prepare the 2018 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.)
Some recent financial statements for Smolira Golf Corp. follow SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2018 $ 35,585 38,940 28,846 43,112 $57,956 $110,898 2017 2017 2018 Current assets Current liabilities Cash Accounts 38,802 43,182 17100 25,594 $ 79,954 85,876 $ 121,000 186,846 Accounts payable Notes payable Other 18,401 20,208 receivable Inventory 3,970 20,944 Long-term debt Owners' equity Common stock and paid-in $56,200 $56,200 surplus Accumulated retained 266,387 303,409 earnings Fixed assets Net plant and $465,585 $521,433 $322,587 $359,609 equipment Total liabilities and owners equity Total assets $523,541 $632,331 $523,541 632,331 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreciation $512,454 363,528 45,963 Earnings before interest nd taxes Interest paid $102,963 20,883 Taxable income Taxes (22%) $ 82,080 18,058 Net income $64,022 Dividends Retained earnings $27,000 37,022Step by Step Solution
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