$ 164,000 83,000 601, eee 848,000 335,000 (158,000) $1,025,000 $ 107,000 71, 526, eee 784,808 299, eee (14 , ) . $ 899,000 N Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. 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 $ 87 , 28 , . 115, eee $ 71, eee 25, eee 96, 592 , e 196, 122,000 $1,025, eee 568, 16 , 75 , $ 899 , $1,792,000 1,886, eee 706,000 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 54, eee Other expenses 494, eee Income before taxes Income taxes expense Net income 548 , 158, eee 22,000 $ 136,000 Required information Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities $ 0 Cash flows from investing activities Cash paid for equipment 0 Cash flows from financing activities Cash received from issuing stock Cash paid for dividends 60,000 60,000 60,000 $ Net increase (decrease) in cash Cash balance at December 31, prior year Cash balance at December 31, current year $ 60,000