CAIL 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 GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 174,000 98,000 $ 118,000 81,000 536,000 Accounts receivable Inventory 616,000 Total current assets 888,000 361,900 (163,000) 735,000 Equipment Accum. depreciation-Equipment 309,000 (109, 0) $ 935,000 Total assets $1,086,900 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 $107,000 38,000 145,000 $ 81,000 30,100 111,100 604,000 578,000 175,000 214,000 123,900 70,900 $ 935,000 Total liabilities and equity $1,086,900 W

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 GOLDEN CORPORATION Comparative Balance sheets December Eurrent Year Erior Year 5176, 118.ece Blog 615, cea 988.ece 361 4163393 51.286.900 235,ese 399,000 Assets Cash Accounts receivable Inventory Total current assets EQUIPhent Accom_depreciation Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Comon stock 52 par value Paid in capital in excess of par value, common stock Retained earnings Total Habilities and equity 3 102, 38,000 115, eee 581,000 ered 13 25ea 604eed 24, eee 123,900 1.686.98 955. GOLDEN CORPORALLON Income statest GOLDEN CORPORATION Income Statement For-Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 50,00 other expenses 504,00 Income before taxes Income taxes expense Net income $1,842, eee 1,896,000 746,080 558,eee 188,8 35,00 $ 152,00 Additional Information on Current Year Transactions a. Purchased equipment for $52.900 cash b. Issued 13,000 shares of common stock for $5 cash per share. c. Declared and paid $99,000 in cash dividends. Required: Prepare a complete statement of cash flows using the Indirect method for the current year. (Amounts to be deducted Indicated with & minus sign.) GOLDEN CORPORATION Statement of casti Flows For Current Year Ended December 31