2 Golden Manufacturing Company started operations by acquiring $129,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $119,000 cash, had an expected useful life of five years, and had an estimated selvage value of $11.900. Golden Manufacturing earned $88,540 and $64,960 of cash revenue during Year 1 and Year 2, respectively. Golden Manufacturing uses double-declining balance depreciation 20 Required a. Record the above transactions in a horizontal statements model b-1. Prepare income statements for Year 1 and Year 2 b-2. Prepare balance sheets for Year 1 and Year 2 b-3. Prepare statements of cash flows for Year 1 and Year 2 Complete this question by entering your answers in the tabs below. Reg A Req B1 Inc Stmt Reg B2 Bal Sheet Reg 3 Stmt Cash Record the above transactions in a horizontal statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity activity (FA) and net change in cash (NC). If the element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows wit not round intermediate calculations, Round the final answers to nearest dollar amount. Not all cells will require entry.) GOLDEN MANUFACTURING COMPANY Horizontal Statements Model Balance Sheet Assets Equity BV Common Retained Revenue Equipment Stock Earnings Income Statement Event Statement of Cash Flows Expense Net Income Cash Req Reg B1 Inc Reg B2B Sheet Reg 3 st Cash 2. Record the above transactions in a horizontal statements model in the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity activity (FA) and not change in cash (NC). If the element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows wit not round Intermediate calculations. Round the final answers to nearest dollar amount. Not all cells will require entry) 20 points Income Statement GOLDEN MANUFACTURING COMPANY Horizontal Statements Model Balance Sheet Assets Equity BV Common Retained Revenue + Equipment Stock Earnings Statement of Cash Flows Event Expense - Net Income Cash Prat References . + Year 1 Issue stock Purchase equipment Revenue Depreciation expense Balance Year 2 Beg bal Revenue Depreciation expense End bai O 0 0 + + + + - 0 01 0+ 0 0 O Req B1 Inc Stmt > 2 20 soints Golden Manufacturing Company started operations by acquiring $129,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $119,000 cash, had an expected useful life of five years, and had an estimated salvage value of $11.900. Golden Manufacturing earned $88,540 and $64,960 of cash revenue during Year 1 and Year 2, respectively. Golden Manufacturing uses double-declining balance depreciation. Required a. Record the above transactions in a horizontal statements model. b-1. Prepare income statements for Year 1 and Year 2. b-2. Prepare balance sheets for Year 1 and Year 2. b-3. Prepare statements of cash flows for Year 1 and Year 2. Skiped Book Prim References Complete this question by entering your answers in the tabs below. Reg A Req Bl Inc Strnt Reg B2 Bal Sheet Reg 83 Stmt Cash Prepare income statements for Year 1 and Year 2. (Do not round intermediate calculations. Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Income Statements For the Year Ended December 31 Year! Your 2 Saved E6 a. Recora une above ansactions in a nonizontal Statements move 2 b-1. Prepare income statements for Year 1 and Year 2 b-2. Prepare balance sheets for Year 1 and Year 2. b-3. Prepare statements of cash flows for Year 1 and Year 2. 20 points Complete this question by entering your answers in the tabs below. Skipped Reg A Req B1 Inc Stmt Req B2 Bal Sheet Reg 33 Stmt Cash Book Pein References Prepare balance sheets for Year 1 and Year 2. (Do not round intermediate calculations. Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Balance Sheets As of December 31 Year Year 2 Assets $ OS 0 Total Assets Stockholders' equity Total stockholders' equity S 0 $ 0 E6 Saved b-3. Prepare statements of cash flows for Year 1 and Year 2 2 Complete this question by entering your answers in the tabs below. 20 points Skipped eBook Req B1 Inc Reg B2 Bal Req B3 Stmt Reg A Stmt Sheet Cash Prepare statements of cash flows for Year 1 and Year 2. (Cash outflows should be indicated with a minus sign. Do not round intermediate calculations. Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Statements of Cash Flows For the Year Ended December 31 Year 1 Year 2 Cash flows from operating activities: Print References Cash flows from investing activities: Cash flows from financing activities Net change in cash Ending cash balance $ 05