Reference no: EM131978893

Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014 2015 Current assets Current liabilities Cash $ 24,056 $ 24,200 Accounts payable $ 23,284 $ 27,200 Accounts receivable 12,548 15,300 Notes payable 12,000 10,900 Inventory 25,592 27,200 Other 11,671 15,900 Total $ 62,196 $ 66,700 Total $ 46,955 $ 54,000 Long-term debt $ 90,000 $ 103,000 Owners’ equity Common stock and paid-in surplus $ 42,000 $ 42,000 Accumulated retained earnings 208,936 233,000 Fixed assets Net plant and equipment $ 325,695 $ 365,300 Total $ 250,936 $ 275,000 Total assets $ 387,891 $ 432,000 Total liabilities and owners’ equity $ 387,891 $ 432,000 SMOLIRA GOLF CORP. 2015 Income Statement Sales $ 336,329 Cost of goods sold 231,000 Depreciation 21,600 Earnings before interest and taxes $ 83,729 Interest paid 14,400 Taxable income $ 69,329 Taxes (35%) 24,265 Net income $ 45,064 Dividends $ 21,000 Retained earnings 24,064 Prepare the 2015 statement of cash flows for Smolira Golf Corp. (Negative amounts should be indicated by a minus sign.) SMOLIRA GOLF CORP. Statement of Cash Flows For 2015 Cash, beginning of the year $ Operating activities $ Net cash from operating activities $ Investment activities $ Net cash from investment activities $ Financing activities $ Net cash from financing activities $ $ Cash, end of year $