Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. 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, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes.

GOLDEN CORPORATIONComparative Balance SheetsDecember 31 Current YearPrior YearAssets Cash$ 177,000$ 121,300Accounts receivable102,50084,000Inventory620,500539,000Total current assets900,000744,300Equipment370,000312,000Accumulated depreciationEquipment(164,500)(110,500)Total assets$ 1,105,500$ 945,800Liabilities and Equity Accounts payable$ 113,000$ 84,000Income taxes payable41,00031,600Total current liabilities154,000115,600Equity Common stock, $2 par value607,600581,000Paid-in capital in excess of par value, common stock219,400179,500Retained earnings124,50069,700Total liabilities and equity$ 1,105,500$ 945,800GOLDEN CORPORATIONIncome StatementFor Current Year Ended December 31Sales$ 1,857,000Cost of goods sold1,099,000Gross profit758,000Operating expenses (excluding depreciation)507,000Depreciation expense54,000Income before taxes197,000Income taxes expense40,200Net income$ 156,800

Additional Information on Current Year Transactions

1. Purchased equipment for $58,000 cash.
2. Issued 13,300 shares of common stock for $5 cash per share.
3. Declared and paid $102,000 in cash dividends.

Problem 12-7AA (Algo) Indirect: Cash flows spreadsheet LO P4

Required:

Prepare a complete statement of cash flows using a spreadsheet under the indirect method.

Note: Enter all amounts as positive values.