Question
Some recent financial statements for Earl Grey Golf Corp. follow. EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Assets Liabilities and Owners
Some recent financial statements for Earl Grey Golf Corp. follow. EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Assets Liabilities and Owners Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 24,046 $ 24,255 Accounts payable $ 23,184 $ 27,420 Accounts receivable 12,448 15,235 Notes payable 12,000 10,800 Inventory 25,392 27,155 Other 11,571 15,553 Total $ 61,886 $ 66,645 Total $ 46,755 $ 53,773 Long-term debt $ 80,000 $ 95,000 Fixed assets Owners equity Net plant and equipment $ 324,695 $ 365,734 Common stock and paid-in surplus $ 40,000 $ 40,000 Retained earnings 219,826 243,606 Total $ 259,826 $ 283,606 Total assets $ 386,581 $ 432,379 Total liabilities and owners equity $ 386,581 $ 432,379 EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income Sales $ 366,996 Cost of goods sold 253,122 Depreciation 32,220 Earnings before interest and taxes $ 81,654 Interest paid 14,300 Taxable income $ 67,354 Taxes (35%) 23,574 Net income $ 43,780 Dividends $ 20,000 Additions to retained earnings 23,780
Prepare the 2018 statement of cash flows for Earl Grey Golf Corp. (Negative answers should be indicated by a minus sign. Omit $ sign in your response.)
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