Question

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	$	23,076			$	25,400			Accounts payable	$	24,484			$	28,400
Accounts receivable		13,748				16,500			Notes payable		14,000				12,100
Inventory		27,252				28,400			Other		12,871				17,500
Total	$	64,076			$	70,300			Total	$	51,355			$	58,000
									Long-term debt	$	82,000			$	96,400
									Owners’ equity
									Common stock and paid-in surplus	$	45,000			$	45,000
									Accumulated retained earnings		223,416				235,000
Fixed assets
Net plant and equipment	$	337,695			$	364,100			Total	$	268,416			$	280,000
Total assets	$	401,771			$	434,400			Total liabilities and owners’ equity	$	401,771			$	434,400
SMOLIRA GOLF CORP. 2015 Income Statement   Sales $ 352,549   Cost of goods sold 229,000   Depreciation 41,400   Earnings before interest and taxes $ 82,149   Interest paid 15,600   Taxable income $ 66,549   Taxes (30%) 19,965   Net income $ 46,584       Dividends $ 35,000       Retained earnings 11,584 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       (Click to select)Net lossNet income $       (Click to select)Less: DepreciationAdd: Increase in accounts payableAdd: DepreciationLess: Increase in other current liabilitiesLess: Increase in accounts payableAdd: Increase in other current liabilities       (Click to select)Less: Increase in other current liabilitiesLess: Increase in accounts payableLess: DepreciationAdd: DepreciationAdd: Increase in accounts payableAdd: Increase in other current liabilities       (Click to select)Add: Increase in accounts payableAdd: Increase in other current liabilitiesLess: Increase in other current liabilitiesAdd: DepreciationLess: Increase in accounts payableLess: Depreciation       (Click to select)Add: Increase in inventoryAdd: Increase in notes payableLess: Increase in inventoryAdd: Increase in accounts receivableLess: Increase in notes payableLess: Increase in accounts receivable       (Click to select)Add: Increase in notes payableLess: Increase in notes payableAdd: Increase in accounts receivableLess: Increase in inventoryLess: Increase in accounts receivableAdd: Increase in inventory   Net cash from operating activities $   Investment activities       (Click to select)Increase in notes payableFixed asset acquisitionDecrease in inventoryIncrease in inventoryDividends paidDecrease in notes payable $   Net cash from investment activities $   Financing activities       (Click to select)Increase in accounts payableDecrease in long-term debtIncrease in notes payableDividends paidDecrease in notes payableIncrease in long-term debt $       (Click to select)Dividends paidIncrease in accounts payableIncrease in notes payableDecrease in notes payableIncrease in long-term debtDecrease in long-term debt       (Click to select)Increase in long-term debtIncrease in accounts payableDividends paidDecrease in notes payableIncrease in notes payableDecrease in long-term debt   Net cash from financing activities $       (Click to select)Net decrease in cashNet increase in cash $   Cash, end of year $ I need help filling in the left side of the problem!

Answer 1

Smolira Golf Inc.
statement of Cash Flows
For the Year Ended Decmber 31st 2015
Cash Flows from Operating Activities
Net Income			$             46,584.00
Depreciation Expense		$             41,400.00
Increase in accounts receivable($16500-$13748)		$             (2,752.00)
Increase in Inventory($28400-$27252)		$             (1,148.00)
Increase in Accounts Payable($28400-$24484)		$               3,916.00
Decrease in Notes Payable($14000-$12100)		$             (1,900.00)
Other increase in liability($17500-$12871)		$               4,629.00	$             44,145.00
Net Cash provided by operating activities			$             90,729.00
Cash flows from Investing Activities
Purchase of plant and equipment($405500-$337695)		$          (67,805.00)
Net Cash provided by Investing Activities			$          (67,805.00)
Cash Flow from financing activities
Payment of cash dividend		$          (35,000.00)
Increase in long term debts($96400-$82000)		$             14,400.00	$          (20,600.00)
Net Increase in cash			$               2,324.00
Cash 1,Jan 2015			$             23,076.00
Cash 31st December 2015			$             25,400.00