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 company's balance sheets and income statement follow.

Golden Corp. a merchandiser, recently completed its 2017 operations. Forthe year, {'I} all sales are credit sales, {2] all credits to Accounts Receivable reect cash receipts from customers, {3} all purchases of inventory are on credit. [at] 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 reects the accrual and cash payment of taxes. The company's balance sheets and income statement follow. GOLDEN CDRPORHTIUN Comparative Balance Sheets December 31, 201? and 2016 2017 2015 Assets Cash $ 1?5,000 $ 119,111+] Accounts receivable 99,500 32,000 Inventory 613,500 537,000 Total current assets 392,000 133,100 Equipmnt 364,600 310,000 Accum. depreciationEquipment 163,500! 109,500: Total assets $1fu93f1uu $ 933:500 Liabilities and Equity Accounts payable 5 109,000 $ 32,000 Income taxes payable 39,000 30,600 Total current liabilities 143,000 112,600 Equity Common stock, $2 par value 614,000 539,000 Paid-in capital in excess of par value, common stock 20?,000 116,500 Retained earnings 124,100 30,500 Total liabilities and equity 31,093,100 $ 933,600 GOLDEN CDRPDRATION Income Statement: For Year Ended December 31, 2017 Sales $1,347,000 Cost of goods sold 1,097,000 Gross Profit T50,000 Operating expenses Depreciation expense $ 54,000 other expenses 505,000 559,000 Income before taxes 191,000 Income taxes expense 37,400 Net: income $ 153,600 Additional Information on Year 2017' Transactions 3. Net income was $153,600. 3. Accounts receivable increased. c. Inventory increased. :I. Accounts payable increased. 3. Income taxes payable increased. f. Depreciation expense was $54,000. ;. Purchased equipment for $54,600 cash. is. Issued 13,100 shares at $5 cash per share. i. Declared and paid $100,000 of cash dividends. Required: Prepare a complete statement of cash ows using a spreadsheet report operating activities under the indirect method. {Enter all amounts as positive values.) Cash Accounts reoeivable Inventory Equipment Balance sheeto'edit balance accounts Accumulated depreciationEquipment Acccu nls payable Income taxes payable Common stock. $2 par value Paid-in capital in excess at par value, common stock unit:nnd n... "L\"... D $ 500 7D 1.043.100 Retained earnings Investing acvies Statement oi cash ows Operating activities