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	$	166,000			$	109,200
Accounts receivable		86,000				73,000
Inventory		604,000				528,000
Total current assets		856,000				710,200
Equipment		340,300				301,000
Accum. depreciationEquipment		(159,000	)			(105,000	)
Total assets	$	1,037,300			$	906,200
Liabilities and Equity
Accounts payable	$	91,000			$	73,000
Income taxes payable		30,000				26,100
Total current liabilities		121,000				99,100
Equity
Common stock, $2 par value		596,000				570,000
Paid-in capital in excess of par value, common stock		198,000				163,000
Retained earnings		122,300				74,100
Total liabilities and equity	$	1,037,300			$	906,200

GOLDEN CORPORATION Income Statement For Year Ended December 31, 2017
Sales				$	1,802,000
Cost of goods sold					1,088,000
Gross profit					714,000
Operating expenses
Depreciation expense	$	54,000
Other expenses		496,000			550,000
Income before taxes					164,000
Income taxes expense					24,800
Net income				$	139,200

Additional Information on Year 2017 Transactions

1. Net income was $139,200.
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 $39,300 cash.
8. Issued 12,200 shares at $5 cash per share.
9. Declared and paid $91,000 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 accounts Cash Accounts Inventory Equipment 109,200 73,000 528,000 301,000 1,011,200 166,000 eceivable 166,000 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 105,000 73,000 26,100 570,000 163,000 74,100 1,011,200 Statement of cash flows Operating activities Investing activities Financing activities