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 payment of taxes. The companys balance sheets and income statement follow.

GOLDEN CORPORATION Comparative Balance Sheets December 31, 2017 and 2016
	2017				2016
Assets
Cash	$	167,000			$	110,300
Accounts receivable		87,500				74,000
Inventory		605,500				529,000
Total current assets		860,000				713,300
Equipment		343,000				302,000
Accum. depreciationEquipment		(159,500	)			(105,500	)
Total assets	$	1,043,500			$	909,800
Liabilities and Equity
Accounts payable	$	93,000			$	74,000
Income taxes payable		31,000				26,600
Total current liabilities		124,000				100,600
Equity
Common stock, $2 par value		598,000				571,000
Paid-in capital in excess of par value, common stock		199,000				164,500
Retained earnings		122,500				73,700
Total liabilities and equity	$	1,043,500			$	909,800

GOLDEN CORPORATION Income Statement For Year Ended December 31, 2017
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 Year 2017 Transactions

1. Net income was $140,800.
2. Accounts receivable increased.
3. Inventory increased.
4. Accounts payable increased.
5. Income taxes payable increased.
6. Depreciation expense was $54,000.
7. Purchased equipment for $41,000 cash.
8. Issued 12,300 shares at $5 cash per share.
9. Declared and paid $92,000 of cash dividends.

Required: Prepare a complete statement of cash flows using a spreadsheet; report operating activities 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 Debit December 31, 2016 Credit December 31, 2017 Balance sheet-debit balance a ccounts Cash Accounts receivable Inventory Equipment 167,000 110,300 74,000 529,000 302,000 1,015,300 167,000 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 Retained earnings 105,500 74,000 26,600 571,000 164,500 73,700 1,015,300 Statement of cash flows Operating activities Investing activities Financing activities