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 $ 24,076 $ 24,400 Accounts payable $ 23,484 $ 27,400 Accounts receivable 12,748 15,500 Notes payable 13,000 11,100 Inventory 25,742 27,400 Other 11,871 17,500 Total $ 62,566 $ 67,300 Total $ 48,355 $ 56,000 Long-term debt $ 72,000 $ 84,000 Owners equity Common stock and paid-in surplus $ 45,000 $ 45,000 Accumulated retained earnings 224,906 245,000 Fixed assets Net plant and equipment $ 327,695 $ 362,700 Total $ 269,906 $ 290,000 Total assets $ 390,261 $ 430,000 Total liabilities and owners equity $ 390,261 $ 430,000 SMOLIRA GOLF CORP. 2015 Income Statement Sales $ 378,618 Cost of goods sold 254,000 Depreciation 56,150 Earnings before interest and taxes $ 68,468 Interest paid 14,600 Taxable income $ 53,868 Taxes (20%) 10,774 Net income $ 43,094 Dividends $ 23,000 Retained earnings 20,094 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 $ - Net cash from operating activities $ Investment activities $ Net cash from investment activities $ Financing activities $ Net cash from financing activities $ $ Cash, end of year $