Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 39,676 Accounts payable $ 40,322 29,566 Notes payable 21,008 43,432 Other 21,664 $ 36,385 18,801 $ 43,582 17,700 4,210 26,234 Total $ 59,396 $ 112,674 Total $ 82,994 $ 87,516 Long-term debt $ 125,000 $ 195,774 $ 57,000 $ 57,000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings 260,907 295,017 Fixed assets Net plant and equipment $466,505 $522,633 Total $ 317,907 $ 352,017 Total assets $ 525,901 $635,307 Total liabilities and owners' equity $ 525,901 $635,307 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation $ 516,454 366,328 46,963 Earnings before interest and taxes Interest paid $ 103,163 21,683 Taxable income Taxes (25%) $ 81,480 20,370 Net income $ 61,110 Dividends Retained earnings $27,000 34,110 Prepare the 2018 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) $ 36,385 SMOLIRA GOLF CORP. Statement of Cash Flows For 2018 Cash, beginning of the year Operating activities Net income Add: Depreciation Add: Increase in other current liabilities $ 61,110 46,963 Add: Increase in accounts payable Net cash from operating activities Investment activities Net cash from investment activities Financing activities Decrease in notes payable Dividends paid Net cash from financing activities Net increase in cash Cash, end of year