Check my work GL1203 - Based on Problem 12-6A Golden Company LO P2, P3 Golden Corps 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, 19) all debits to Accounts Payable reflect cash payments for inventory. (5) Other Expenses are all cash expenses, and (6) any change In Hincome Taxes Payable reflects the accrual and cash payment of taxes GOLDEN CORPORATION Comparative lance Sheets December 31 00 Current Year Prior Year $164.000 83,000 349,000 335.000 (158,000) 31.025,000 Assets Cash Accounts receivable Tventory Total current assets Equipment Acum cecitoupent Tots Liabilities and Equity Mounts payable The spate Total des quity Co. Der value Pain cities of prach Searning Total with it $107.000 71,00 526.000 704,000 299,000 (100.000 199,00 5 07.000 115,00 $ 21.00 25,000 9.00 30, 12,000 51.25,000 360,000 10. 175.000 500,00 SOON CONDOTTON Latit For current Year End Dec AL SALES MOC Retained earnings Total liabilities and equity 122, eee $1,025,000 au, 75,000 $ 899, eee GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 54,80 Other expenses 494,080 Income before taxes Income taxes expense Net income $1,792,000 1,886,080 786,000 548, eee 158, eee 22.ee $ 136,80 Additional Information on Current Year Transactions a. Purchased equipment for $36,000 cash b. Issued 12,000 shares of common stock for $5 cash per share. c. Declared and paid $89,000 in cash dividends. Requirement General Journal General Ledger Trial Balance Direct Method Indirect Method General Journal tab - Reconstruct the entries to summarize the activity between December 31. prior year and 31, current year. Direct Method tab - Prepare the Statement of Cash flows for the year ended December 31, current year using th method Indirect Method tab - Prepare the reconciliation to the Indirect method, Collow