SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners Equity 2017 2018 2017 2018 Current assets Current liabilities Accounts payable Cash $ 35,085 $ 38.480 $ 37,852 S 42,932 Accounts 18,151 28,396 Notes payable 19,708 16,725 receivable Inventory 3,820 42,912 Other 20,494 25,194 Total $ 57056 $ 109,788 Total $ 78,054 $ 84,851 Long-term debt $118,500 $181,793 Owners equity Common stock and paid-in surplus Accumulated retained $ 55,700 $55,700 269,812 308,127 earnings Fixed assets Net plant and equipment $ 465,010 $520,683 Total $ 325,512 $363,827 Total liabilities and owners Total assets $522,066 $630,471 $522,066 $630,471 equity SMOLIRA GOLF CORP. 2018 Income Statement Sales $509,954 361,778 45,338 Cost of goods sold Depreciation Earnings before interest and taxes $102,838 Interest paid 20,383 $ 82,455 18,140 Taxable income Taxes (22%) Net income $ 64,315 Dividends $26,000 38,315 Retained earnings Prepare the 2018 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) SMOLIRA GOLF CORP Statement of Cash Flows For 2018 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