SMOLIRA GOLF CORP 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current liabilities Current assets Accounts Inventory Total $24,236 26,000 17,100 29,000 Accounts payable Notes payable Other $25,08429,000 12,700 18,300 $57,555 60,000 Cash 19,000 14,348 27,892 66,476 72.100 receivable 13,471 Total Long-term debt $ 88,000 99,000 Owners' equity surplus earnings Total Common stock and paid-in $ 4500o $ 45,000 Accumulated retained 219,616 233,000 Fixed assets Net plant and equipment $264,616 $278,000 $343,695 $364,900 Total liabilities and owners' equity 410,171 $437,00o Total assets $410171$437000 SMOLIRA GOLF CORP 2015 Income Statement Sales Cost of goods sold Depreciation $392,640 257,000 48,800 Earnings before interest $86,840 16,200 and taxes Interest paid Taxable income Taxes (40%) $ 70,640 28,256 Net income 42,384 Dividends Retained earnings $29,000 13,384 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 $1 Investment activities (Click to select) $I 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