Learning Activity #2 In preparing the balance sheets, remember that shareholders' equity is the residual. With this in mind, Mara's balance sheets are as follow: You are required to prepare cash flow statements: MARA CORPORATION 2008 and 2009 Balance Sheets 2009 Current assets Net fixed assets 2008 $2,205 7,344 2009 $ 2,429 7,650 Current liabilities Long-term debt Equity Total liabilities and shareholders' equity 2008 $1.003 3,106 5,440 $ 1,255 2,085 6,739 $9.549 $10,079 Total assets $9,549 $10,079 MARA CORPORATION 2009 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (35%) Net income Dividends $250 Addition to retained earnings 222 $4,507 2,633 952 $ 922 196 $ 726 254 $ 472