Problem 3-28 Statement of Cash Flows [LO4]

Some recent financial statements for Smolira Golf Corp. follow.

SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets
Assets									Liabilities and Owners Equity
	2014				2015					2014				2015
Current assets									Current liabilities
Cash	$	24,206			$	25,700			Accounts payable	$	24,784			$	28,700
Accounts receivable		14,048				16,800			Notes payable		13,000				12,400
Inventory		27,622				28,700			Other		13,171				15,900
Total	$	65,876			$	71,200			Total	$	50,955			$	57,000
									Long-term debt	$	85,000			$	95,000
									Owners equity
									Common stock and paid-in surplus	$	40,000			$	40,000
									Accumulated retained earnings		230,616				241,000
Fixed assets
Net plant and equipment	$	340,695			$	361,800			Total	$	270,616			$	281,000
Total assets	$	406,571			$	433,000			Total liabilities and owners equity	$	406,571			$	433,000

SMOLIRA GOLF CORP. 2015 Income Statement
Sales					$	369,230
Cost of goods sold						260,500
Depreciation						47,350
Earnings before interest and taxes					$	61,380
Interest paid						15,900
Taxable income					$	45,480
Taxes (20%)						9,096
Net income					$	36,384
Dividends	$	26,000
Retained earnings		10,384

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)Net incomeNet loss	$
(Click to select)Add: Increase in other current liabilitiesLess: Increase in other current liabilitiesAdd: DepreciationAdd: Increase in accounts payableLess: Increase in accounts payableLess: Depreciation
(Click to select)Add: DepreciationAdd: Increase in accounts payableLess: Increase in accounts payableLess: Increase in other current liabilitiesLess: DepreciationAdd: Increase in other current liabilities
(Click to select)Less: Increase in accounts payableLess: DepreciationAdd: Increase in other current liabilitiesAdd: DepreciationAdd: Increase in accounts payableLess: Increase in other current liabilities
(Click to select)Less: Increase in accounts receivableAdd: Increase in inventoryLess: Increase in inventoryAdd: Increase in accounts receivableAdd: Increase in notes payableLess: Increase in notes payable
(Click to select)Less: Increase in inventoryAdd: Increase in accounts receivableAdd: Increase in notes payableLess: Increase in notes payableLess: Increase in accounts receivableAdd: Increase in inventory
Net cash from operating activities	$
Investment activities
(Click to select)Fixed asset acquisitionDecrease in notes payableIncrease in inventoryDividends paidIncrease in notes payableDecrease in inventory	$
Net cash from investment activities	$
Financing activities
(Click to select)Dividends paidDecrease in notes payableDecrease in long-term debtIncrease in accounts payableIncrease in notes payableIncrease in long-term debt	$
(Click to select)Decrease in long-term debtIncrease in long-term debtDecrease in notes payableIncrease in accounts payableIncrease in notes payableDividends paid
(Click to select)Dividends paidIncrease in accounts payableIncrease in long-term debtDecrease in long-term debtDecrease in notes payableIncrease in notes payable
Net cash from financing activities	$
(Click to select)Net increase in cashNet decrease in cash	$
Cash, end of year	$