1. Prepare a complete statement of cash flows using the indirect method for the current year

2. Prepare a complete statement of cash flows using a spreadsheet under the indirect method.

Golden Corporation's current year Income statement, comparative balance sheets, and additional Information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of Inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for Inventory, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year $ 173, e80 96,500 614,500 884, eee 359, 280 (162,580) $ 1,080,789 $ 116,900 80,eee 535,000 731,900 308,000 (108,500) $ 931,400 Assets Cash Accounts receivable Inventory Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity $ 105,000 37,000 142,000 $ 80, see 29,600 189,600 602,888 212,200 123,700 $ 1,080, 700 577,000 173,5ee 71,300 $ 931,400 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 1,837, eee 1,695,000 742,080 5e3,80 54, eee 185, cee 34,600 $ 158,480 Additional Information on Current Year Transactions a. Purchased equipment for $51,200 cash. b. Issued 12,900 shares of common stock for $5 cash per share. c. Declared and paid $98,000 in cash dividends