Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 38,388 Accounts payable $ 37,662 28,306 Notes payable 19,608 42,872 Other 20,404 $ 34,985 Current assets Cash Accounts receivable Inventory $ 42,882 18,101 16,650 3.790 25,114 Total $ 56,876 $ 109,566 Total $ 77,674 $ 84,646 Long-term debt $ 118,000 $ 179,157 $ 55,600 $ 55,600 Owners' equity Common stock and paid-in surplus Accumulated retained earnings 270,497 310,696 Fixed assets Net plant and equipment $464,895 $520,533 Total $326,097 $366,296 Total assets $ 521,771 $630,099 Total liabilities and owners' equity $ 521.771 $630,099 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation $509,454 361,428 45,213 Earnings before interest and taxes Interest paid $ 102,813 20,283 Taxable income Taxes (21%) $ 82,530 17,331 Net income $ 65,199 Dividends Retained earnings $25,000 40.199 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 income Add: Depreciation Add: Increase in accounts payable Add: Increase in other current liabilities Less: Increase in accounts receivable Less: Increase in inventory Add: Depreciation Net cash from operating activities Investment activities Net cash from investment activities Financing activities Net cash from financing activities Cash, end of year