5 Part 2 of 2 Required information [The following information applies to the questions displayed below.) Golden Corp.'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 (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. 5 points Skipped GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year eBook $ 169,000 90,500 608,500 868,000 348,400 (160,500) $1,055,900 $ 112,500 76,000 531,000 719,500 304,000 (106,500) $ 917,000 Print 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 pital in exces of par value, Retained earnings Total liabilities and equity $ $ References 97,000 33,000 130,000 76,000 27,600 103,600 on stock 598,000 205,000 122,900 $1,055,900 573,000 167,500 72,900 $ 917,000 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales $1,817,000 Cost of goods sold 1,091,000 Gross profit 726,000 Operating expenses Depreciation expense $ 54,000 Other expenses 499,000 553,000 Income before taxes 173,000 Income taxes expense 29,000 Net income S 144,000 5 Additional Information on Current Year Transactions a. Purchased equipment for $44,400 cash. b. Issued 12,500 shares of common stock for $5 cash per share. c. Declared and paid $94,000 in cash dividends. Part 2 of 2 5 points Skipped Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positive values.) eBook GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31, Prior Debit Credit Year Print December 31, Current Year References S S 169,000 Balance sheet-debit balance accounts Cash Accounts receivable Inventory Equipment 112,500 76,000 531,000 304,000 S 1,023,500 S 169,000 S 106,500 76,000 Balance sheet-credit balance accounts Accumulated depreciation-Equipment Accounts payable Income taxes payable Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings 27,600 573,000 167,500 72,900 S 1,023,500 $ 0 Statement of cash flows Operating activities Statement of cash flows Operating activities Investing activities Financing activities $ 0 $ 0