Check my work 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 Gurean Pro Year 140,000 do 604,000 856.000 H300 GOLDEN CORPORATION Comparative Balance Sheets December 31 Assets Cach Accounts receivable Inventory Total current assets Equipment Acculated depreciation-cuint Total asset Les and Equity Accounts payable es royable Art absti Erity Contott 32 par value Palth capture to tatred a este und wity 5:109.200 23,000 520 90,00 30.000 .. 20 SON 5.91.000 1961 5.00 1991 22 300 16. 20 200 tit NA NAM Check my work 1 re Total liabilities and equity $ 1,037,300 590,200 100 point GOLDEN CORPORATION Income Statement For current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Tiet Income $ 1,602,000 1.483.000 714.00 496, 56,000 184.000 24 000 $9.29 Plut Additional Information on Current Year Transactions , Purchased equipment for $39.300 cash b. Issued 12.200 shares of common stock for 55 cash per share c. Declared and paid $91000 in cash dividends Required: Prepare a complete statement of cash flows using the method for the current year. (Amounts to be deducted should be indicated with a minus sign) GOLDEN CORPORATION