5 ! Check my work Part 2 of 2 10 points Required information [The following information applies to the questions displayed below.] 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. eBook GOLDEN CORPORATION Comparative Balance Sheets December 31 Print References 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 Current Year Prior Year $ 167,000 87,500 $ 110,300 74,000 605,500 529,000 860,000 713,300 343,000 302,000 (159,500) (105,500) $ 1,043,500 $ 93,000 31,000 $ 909,800 $ 74,000 26,600 124,000 100,600 595,600 571,000 201,400 164,500 122,500 73,700 $ 1,043,500 $ 909,800 Sales GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income Additional Information on Current Year Transactions a. Purchased equipment for $41,000 cash. $ 1,807,000 1,089,000 718,000 497,000 54,000 167,000 26,200 $ 140,800 b. Issued 12,300 shares of common stock for $5 cash per share. c. Declared and paid $92,000 in cash dividends. Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. Note: Enter all amounts as positive values. 5 Part 2 of 2 10 points Required information : eBook Print Balance sheet-debit balance accounts Cash Accounts receivable Inventory References Equipment Analysis of Changes Debit Credit GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 December 31, Prior Year Balance sheet-credit balance accounts Accumulated depreciation-Equipment Accounts payable Income taxes payable 69 GA SA Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Statement of cash flows Operating activities GA 110,300 74,000 529,000 302,000 1,015,300 105,500 74,000 26,600 571,000 164,500 73,700 1,015,300 Check my work December 31, Current Year 167,000 5 ! Required information Part 2 of 2 Operating activities 10 points eBook Print Investing activities References Financing activities I Check my work