Golden Corp., a merchandiser, recently completed its 2015 operations. 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. The companys balance sheets and income statement follow.

GOLDEN CORPORATION Comparative Balance Sheets December 31, 2015 and 2014
	2015			2014
Assets
Cash	$	221,000		$	165,000
Accounts receivable		99,000			81,000
Inventory		635,000			543,000
Total current assets		955,000			789,000
Equipment		379,000			333,000
Accum. depreciationEquipment		(187,000	)		(121,000	)
Total assets	$	1,147,000		$	1,001,000
Liabilities and Equity
Accounts payable	$	101,000		$	88,000
Income taxes payable		50,000			42,000
Total current liabilities		151,000			130,000
Equity
Common stock, $2 par value		624,000			602,000
Paid-in capital in excess of par value, common stock		210,000			177,000
Retained earnings		162,000			92,000
Total liabilities and equity	$	1,147,000		$	1,001,000

GOLDEN CORPORATION Income Statement For Year Ended December 31, 2015
Sales				$	1,877,000
Cost of goods sold					1,103,000
Gross profit					774,000
Operating expenses
Depreciation expense	$	66,000
Other expenses		511,000			577,000
Income before taxes					197,000
Income taxes expense					26,000
Net income				$	171,000

Additional Information on Year 2015 Transactions
a.	Purchased equipment for $46,000 cash.
b.	Issued 11,000 shares of common stock for $5 cash per share.
c.	Declared and paid $101,000 in cash dividends.

Required:

Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

GOLDEN CORPORATION
Statement of Cash Flows
For Year Ended December 31, 2015
Cash flows from operating activities
Net Income
Adjustments to reconcile net income to net cash provided by operations:
Cash flows from investing activities:
Cash flows from financing activities:
Net increase (decrease) in cash
Cash balance at beginning of year
Cash balance at end of year