Current Year Prior Year $ 167,000 87,500 605,500 860,000 343,000 (159,500) $1,043,500 $ 110,300 74,000 529,000 713,300 302,000 (105,500) $ 909,800 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 capital in excess of par value, common stock Retained earnings Total liabilities and equity $ $ 93,000 31,000 124,000 74,000 26,600 100,600 595,600 201,400 122,500 $1,043,500 571,000 164,500 73,700 $ 909,800 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales $1,807,000 Cost of goods sold 1,089,000 Gross profit 718,000 Operating expenses Depreciation expense $ 54,000 Other expenses 497,000 551,000 Income before taxes 167,000 Income taxes expense 26,200 Net income $ 140,800 Additional Information on Current Year Transactions a. Purchased equipment for $41,000 cash. b. Issued 12,300 shares of common stock for $5 cash per share. c. Declared and paid $92,000 in cash dividends. Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positive values.) GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31, Prior Credit Year December 31, Current Year $ 167,000 Balance sheet-debit balance accounts Cash Accounts receivable Inventory Equipment 110,300 74,000 529,000 302,000 1,015,300 $ $ T L 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 105,500 74,000 26,600 571,000 164,500 73,700 1,015,300 Retained earnings $ Statement of cash flows Operating activities