Question

SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners Equity 2017 2018 2017 2018 Current assets Current liabilities Accounts payable Cash $ 35,085 $ 38.480 $ 37,852 S 42,932 Accounts 18,151 28,396 Notes payable 19,708 16,725 receivable Inventory 3,820 42,912 Other 20,494 25,194 Total $ 57056 $ 109,788 Total $ 78,054 $ 84,851 Long-term debt $118,500 $181,793 Owners equity Common stock and paid-in surplus Accumulated retained $ 55,700 $55,700 269,812 308,127 earnings Fixed assets Net plant and equipment $ 465,010 $520,683 Total $ 325,512 $363,827 Total liabilities and owners Total assets $522,066 $630,471 $522,066 $630,471 equity

Answer 1

Cashflow Statement:
Cashflows from Operating activities:
Net Income for the year				64315
Adjustment required
Depreciation				45338
Increase in accounts recievable				-10245
Increase in Inventorry				-39092
Increase in Accounts Payable				5080
Decrease in Notes payable				-2983
Increase in oTher liabilities				4700
Net cash provided from operating activities				67113
Cashflows from Investing activities:
Purchase of fixed assets			-101011
(465010-45338-520683)
Net cash used in investing activities				-101011
Cashflows from Financing activities:
Issue of LTD			63293
Dividend paid			-26000
Net cash used in				37293
Net Increase in cash				3395
Beginning balance of cash				35085
Ending balance of cash				38480