Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets Liabilities and...

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Finance

Some recent financial statements for Smolira Golf Corp.follow.

SMOLIRA GOLF CORP.
2017 and 2018 Balance Sheets
Assets Liabilities and Owners’ Equity
2017 2018 2017 2018
  Current assets   Current liabilities
      Cash $ 36,285 $ 39,584       Accounts payable $ 40,132 $ 43,532
      Accounts receivable 18,751 29,476       Notes payable 20,908 17,625
      Inventory 4,180 43,392       Other 21,574 26,154
        Total $ 59,216 $ 112,452         Total $ 82,614 $ 87,311
  Long-term debt $ 124,500 $ 193,150
  Owners’ equity
      Common stock and paid-insurplus $ 56,900 $ 56,900
      Accumulated retainedearnings 261,592 297,574
  Fixed assets
  Net plant and equipment $ 466,390 $ 522,483   Total $ 318,492 $ 354,474
  Total assets $ 525,606 $ 634,935   Total liabilities and owners’ equity $ 525,606 $ 634,935

SMOLIRA GOLF CORP.
2018 Income Statement
  Sales $ 515,954
  Cost of goods sold 365,978
  Depreciation 46,838
  Earnings before interest and taxes $ 103,138
  Interest paid 21,583
  Taxable income $ 81,555
  Taxes (24%) 19,573
  Net income $ 61,982
      Dividends $ 26,000
      Retained earnings 35,982

Prepare the 2018 statement of cash flows for Smolira Golf Corp.(Negative answers should be indicated by a minussign.)

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Some recent financial statements for Smolira Golf Corp.follow. SMOLIRA GOLF CORP.2017 and 2018 Balance SheetsAssetsLiabilities and Owners’ Equity2017201820172018 Current assets Current liabilities Cash$36,285$39,584 Accounts payable$40,132$43,532 Accounts receivable18,75129,476 Notes payable20,90817,625 Inventory4,18043,392 Other21,57426,154 Total$59,216$112,452 Total$82,614$87,311 Long-term debt$124,500$193,150 Owners’ equity Common stock and paid-insurplus$56,900$56,900 Accumulated retainedearnings261,592297,574 Fixed assets Net plant and equipment$466,390$522,483 Total$318,492$354,474 Total assets$525,606$634,935 Total liabilities and owners’ equity$525,606$634,935SMOLIRA GOLF CORP.2018 Income Statement Sales$515,954 Cost of goods sold365,978 Depreciation46,838 Earnings before interest and taxes$103,138 Interest paid21,583 Taxable income$81,555 Taxes (24%)19,573 Net income$61,982 Dividends$26,000 Retained earnings35,982Prepare the 2018 statement of cash flows for Smolira Golf Corp.(Negative answers should be indicated by a minussign.)

SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets
Assets					Liabilities and Owners’ Equity
	2017		2018			2017		2018
Current assets					Current liabilities
Cash	$	36,285	$	39,584	Accounts payable	$	40,132	$	43,532
Accounts receivable		18,751		29,476	Notes payable		20,908		17,625
Inventory		4,180		43,392	Other		21,574		26,154

Total	$	59,216	$	112,452	Total	$	82,614	$	87,311

					Long-term debt	$	124,500	$	193,150

					Owners’ equity
					Common stock and paid-insurplus	$	56,900	$	56,900
					Accumulated retainedearnings		261,592		297,574
Fixed assets
Net plant and equipment	$	466,390	$	522,483	Total	$	318,492	$	354,474

Total assets	$	525,606	$	634,935	Total liabilities and owners’ equity	$	525,606	$	634,935

SMOLIRA GOLF CORP. 2018 Income Statement
Sales			$	515,954
Cost of goods sold				365,978
Depreciation				46,838

Earnings before interest and taxes			$	103,138
Interest paid				21,583

Taxable income			$	81,555
Taxes (24%)				19,573

Net income			$	61,982

Dividends	$	26,000
Retained earnings		35,982