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 $ 39,216 Accounts payable $ 39,372 29,116 Notes payable 20,508 43,232 Other 21,214 Current assets Cash Accounts receivable Inventory $ 35,885 18,551 4,060 $ 43,332 17,325 25,834 Total $ 58,496 $ 111,564 Total $ 81,094 $ 86,491 $ 122,500 $ 190,733 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 56,500 $ 56,500 264,332 299,723 Fixed assets Net plant and equipment $465,930 $ 521,883 Total $320,832 $356,223 Total assets $524,426 $633,447 Total liabilities and owners' equity $524,426 $ 633,447 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation $ 513,954 364,578 46,338 Earnings before interest and taxes Interest paid $ 103,038 21,183 Taxable income Taxes (25%) $ 81,855 20,464 Net income $ 61,391 Dividends Retained earnings $26,000 35,391 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 Net cash from operating activities Investment activities Fixed asset acquisition Net cash from investment activities Financing activities Decrease in notes payable Dividends paid Increase in long-term debt Net cash from financing activities Net increase in cash Cash, end of year