6 Required information Use the following information for the Problems below. The following information applies to the questions displayed below.] points Golden Corp., a merchandiser, recently completed its 2017 operations. For the year, (1) all sales are credit sales, (2) al 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. The company's balance sheets and income statement follow. eBook Print GOLDEN CORPORATION Conparative Balance Sheets December 31, 2017 and 2016 References 2017 2016 Accounts receivable Inventory Total current ansets Equipment $ 171,000 114,700 78,000 611,500533,000 93,500 353, 800 161,500 306,000 Accun. depreciation Equipment Total asset 107,500) $1,068,300 924,200 Liabilities and Equity Accounts payable $ 101,000 $ 7B,000 35,000 28,600 106, 600 Income taxes payable Total current liabilities Equity Common stock, $2 par value Paid-in capital in excess of par valuc, common stock Retained earnings Total 1iabilities and equity 136, 000 575,000 170,50o 123,3002 100 $1,068,300 924,200 606,000 203,000 GOLDEN CORPORATION For Year Ended December 31, 2017 $1,827,000 1,093,000 Sales Cost of goods sold Gross profit Operating expenaea $ 54,000 501,000 Depreciation expense Other expenses 555,000 Incone before taxes Inconme taxes expense Set income $ 147,200 Problem 12-6A Indirect: Statement of cash flows LO P1, P2, P3 6 Problem 12-6A Indirect: Statement of cash flows LO P1, P2, P3 Additional Information on Year 2017 Transactions points a. Purchased equipment for $47,800 cash. b. Issued 12,700 shares of common stock for $5 cash per share. c. Declared and paid $96,000 in cash dividends. eBook Required Prepare a complete statement of cash flows; report its cash n o rs and cash ouen ows from operating acti ties accor ng indirect method. (Amounts to be deducted should be indicated with a minus sign.) the Print GOLDEN CORPORATION Statement of Cash Flows For Year Ended December 31, 2017 References Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations: Cash flows from investing activities: Cash flows from financing actvites: Net increase (decrease) in cash Cash balance at beginning of year Cash balance at end of year