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SMOLIRA GOLF CORP 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2014 2015 2015 Current assets Current liabilities Cash Accounts receivable Inventory
SMOLIRA GOLF CORP 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2014 2015 2015 Current assets Current liabilities Cash Accounts receivable Inventory $ 23,076 13,748 27,252 $ 24,484 14,000 12,871 $ 28,400 12,100 17,500 $ 25,400 16,500 28,400 Accounts payable Notes payable Other Total 64,076 70,300 Total $ 51,355 $ 58,000 Long-term debt Owners' equity $ 82,000 $ 96,400 Common stock and paid-in surplus Accumulated retained earnings 45,000 223,416 $ 45,000 235,000 Fixed assets Net plant and equipment $337,695 $364,100 Total $268,416 $280,000 Total assets $401,771 $434,400 Total liabilities and owners' equity $401,771 $434,400 SMOLIRA GOLF CORP 2015 Income Statement Sales Cost of goods sold Depreciation $352,549 229,000 41,400 Earnings before interest and taxes Interest paid 82,149 15,600 Taxable income Taxes (30%) 66,549 19,965 Net income $ 46,584 Dividends Retained earnings S35,000 11,584 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) (Click to select) (Click to select) (Click to select) (Click to select) Net cash from operating activities Investment activities (Click to select) Net cash from investment activities Financing activities (Click to select) (Click to select) (Click to select) Net cash from financing activities (Click to select) Cash, end of year
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