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Some recent financial statements for Smolira Golf Corp. follow.SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilitiesand Owners’ Equity 2014 2015 2014 2015 Current assets Currentliabilities Cash $ 23,056 $ 25,200 Accounts payable $ 24,284 $28,200 Accounts receivable 13,548 16,300 Notes payable 13,00011,900 Inventory 26,982 28,200 Other 12,671 19,900 Total $ 63,586 $69,700 Total $ 49,955 $ 60,000 Long-term debt $ 80,000 $ 92,000Owners’ equity Common stock and paid-in surplus $ 60,000 $ 60,000Accumulated retained earnings 209,326 222,000 Fixed assets Netplant and equipment $ 335,695 $ 364,300 Total $ 269,326 $ 282,000Total assets $ 399,281 $ 434,000 Total liabilities and owners’equity $ 399,281 $ 434,000 SMOLIRA GOLF CORP. 2015 Income StatementSales $ 375,123 Cost of goods sold 258,000 Depreciation 45,600Earnings before interest and taxes $ 71,523 Interest paid 15,400Taxable income $ 56,123 Taxes (40%) 22,449 Net income $ 33,674Dividends $ 21,000 Retained earnings 12,674 Prepare the 2015statement of cash flows for Smolira Golf Corp. (Negative amountsshould be indicated by a minus sign.) SMOLIRA GOLF CORP. Statementof Cash Flows For 2015 Cash, beginning of the year $ Operatingactivities $ Net cash from operating activities $ Investmentactivities $ Net cash from investment activities $ Financingactivities $ Net cash from financing activities $ $ Cash, end ofyear $
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