Golden Corp., a merchandiser, recently completed its 2018 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 CORPORATION Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 $ 164,000 $ 107,000 83,000 71,000 601,000 526,000 848,000 704,000 335,000 299,000 (158,000) (104.000) $1,025,000 $ 899,000 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock, 92 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity 87,000 28,000 115,000 592,000 196,000 122.000 $1,025,000 $ 71,000 25.000 96,000 560,000 160,000 25,000 5 899,000 GOLDEN CORPORATION Income statement Tor Year Ended December 31, 2018 Boles $1.792,000 cost of goods sold 1.045,000 Gross profit 706,000 Operating expenses Depreciation expense $ 54,000 other expenses 540.000 Inece before en 150,000 22.000 Net 136.000 Additional Information on Year 2018 Transactions a. Purchased equipment for $36.000 cash b. Issued 12,000 shares of common stock for 55 cash per share c. Declared and paid 189.000 in cash dividends Required: Prepare a complete statement of cash flows; report its cash flows from operating activities according to the direct method (Amounts to be deducted should be indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Year Ended December 31, 2018 Cash flows from operating activities Cash flows from investing activities Cashflows from financing activities CDecard 31. 2017 Canon 2018