Question

SMOLIRA GOLF CORP. 2018 Income Statement Sales $ 515,454 Cost of goods sold 365,628 Depreciation 46,713 Earnings before interest and taxes $ 103,113 Interest paid 21,483 Taxable income $ 81,630 Taxes (23%) 18,775 Net income $ 62,855 Dividends $ 25,000 Retained earnings 37,855 Prepare the 2018 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.)

Answer 1

Answer:

Note: Find attach the other missing table of question

Particulars                                         Amount$

Cash flow from operating activities

Income                                                62,855

Depreciation                                      46,713

Increase in AR                                    (10,685)  

Increase in inventory                          (39,202)  

Increase in AP                                     3,540

Decrease in notes payable                (3,258)  

Increase in other CL                            4,590

Cash flow from operating activities A               $64,553

Cash flow from Investing activities

Sale of invt

Purchase of PPE =                            ($102,771)

($522,333 + $46,713 - $466275)

Cash flow from Investing activities  B              ($102,771)

Cash flow from Financing activities

Issue of long term debt                      66,525

Dividends Paid                                     (25,000)

Cash flow from Financing activities C                 $41,525

Net change in cash & cash equivalents A+B+C  $3,307.00

Opening cash and cash equivalents                      $36,185

Closing cash and cash equivalents                       $39,492