Some recent financial statements for Smolira Golf Corporation follow. SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other Assets 2020 Current assets Cash $ 35,085 Accounts receivable Inventory $38,480 18,151 28,396 3,820 42,912 Total $ 57,056 $109,788 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings 2020 2021 $ 37,852 $ 42,932 19,708 20,494 16,725 25,194 $ 78,054 $ 84,851 $ 118,500 $181,793 $55,700 $55,700 269,812 308,127 Fixed assets Net plant and equipment $ 465.010 $ 520.683 Total $325,512 363,827 $ Total assets $ 630,471 Total liabilities and owners' equity $ $ 630,471 522.066 522,066 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation $ 509,954 361,778 45,338 Earnings before interest and $ 102,838 taxes Interest paid Taxable income Taxes (22%) 20,383 $ 82,455 18,140 Net income Dividends $ 64,315 $ 26,000 38,315 Retained earnings Prepare the 2021 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) SMOLIRA GOLF CORPORATION Statement of Cash Flows Cash, beginning of the year For 2021 Operating activities Net income Add: Depreciation Add: Increase in accounts payable Add: Increase in other current liabilities Add: Increase in accounts receivable Add: Increase in inventory Net cash from operating activities Investment activities Fixed asset acquisition Net cash from investment activities Financing activities Decrease in notes payable 35,085 $ 64,315 45,338 AUG. Crease in vure current launus Add: Increase in accounts receivable Add: Increase in inventory Net cash from operating activities Investment activities Fixed asset acquisition Net cash from investment activities Financing activities Decrease in notes payable Decrease in long-term debt Increase in long-term debt Net cash from financing activities Net increase in cash Cash, end of year 37,852 Saved