Problem 3-28 Statement of Cash Flows (L04) Some recent financial statements for Smolira Golf Corp. follow. Assets 2014 2015 Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Liabilities and Owners' Equity 2015 2014 Current liabilities $ 24,500 Accounts payable $23,584 15,600 Notes payable 15,000 27,500 Other 11,971 $ 24,086 12,848 26,042 $ 27,500 11,200 18,300 Total $ 62,976 $ 67,600 Total $50,555 $ 57,000 $60,000 $ 73,000 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $44,000 $ 44,000 237,116 256,000 Fixed assets Net plant and equipment $328,695 $362,400 Total $ 281,116 $300,000 Total assets $ 391,671 $430,000 Total liabilities and owners' equity $391,671 $430,000 SMOLIRA GOLF CORP. 2015 Income Statement Sales Cost of goods sold Depreciation $ 373,473 254,500 32,800 $ 86,173 Earnings before interest and taxes Interest paid 14,700 Taxable income Taxes (40%) $ 71,473 28,589 Net income $ 42,884 Dividends Retained earnings $24,000 18,884 Prepare the 2015 statement of cash flows for Smolira Golf Corp. (Negative amounts should be indicated by a minus sign.) SMOLIRA GOLF CORP. Statement of Cash Flows For 2015 $ Cash, beginning of the year Operating activities (Click to select) (Click to select) 4 (Click to select) 4 A (Click to select) (Click to select) (Click to select) Net cash from operating activities ta Investment activities (Click to select) 4 $ Net cash from investment activities $ Financing activities (Click to select) ta (Click to select) (Click to select) Net cash from financing activities ta (Click to select) $ Cash, end of year $