Golden Corp., a merchandiser, recently completed its 2017 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 ayment of taxes. The company's balance sheets and income statement follow GOLDEN CORPORATION Comparative Balance Sheets 31, 2017 and 2016 .Assets Cash Accounts receivable In Total current assets 169 90 608 868 112.50 531.00 719.50 8.400 1304.00 (160.(106,50 917,00 Accun. depreciation-Equipment Total assets 055 Liie and Eguity .Accounts payable 97 130 602 76.00 27.60 103.60 Income taxes payable Total current liabiities .Equity Common stock, $2 par value Paid-in capital in excess of par value, common st Retained eanings Total iabilities and equity 167.50 72.90 917,00 GOLDEN CORPORATION Income Statement For Year Ended December 31, 2017 Sales 1,817.000 1091.000 726,000 Cost of goods sold Gross proft rating expenses Depreciation expense S 54 499 Other expenses 553.000 173.000 29.000 144.000 Income before taxes Income taxes expense Net income Additional Information on Year 2017 Transactions Net income was $144,000 a. b. Accounts receivable increased. Inventory increased C. d. Accounts payable increased. Income taxes payable increased. e. f. Depreciation expense was $54,000 Purchased equipment for $44,400 cash g. h. Issued 12,500 shares at S5 cash per share. Declared and paid $94,000 of cash dividends. i. Required Prepare a complete statement of cash flows using a spreadsheet, report operating actvities under the indirect method. (Enter all amounts as positive values.) GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Year Ended December 31, 2017 Analysis of Changes December 31, 2016 Credit December 31, 2017 Balance sheet-debit balance accounts Cash Accounts receivable 112,500 76.000 531,000 304.000 1023,500 169,000 Balance sheet-credit balance accounts 108,500 78,000 27.800 573.000 167.500 72.900 1023.500 Accounts payable Income taxes payable Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Statement of cash flows Operating activities Investing activites Financing activities