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 CORPORATION
Comparative Balance Sheets
December 31
	Current Year	Prior Year
Assets
Cash	$ 180,000	$ 124,600
Accounts receivable	107,000	87,000
Inventory	625,000	542,000
Total current assets	912,000	753,600
Equipment	378,100	315,000
Accumulated depreciationEquipment	(166,000)	(112,000)
Total assets	$ 1,124,100	$ 956,600
Liabilities and Equity
Accounts payable	$ 119,000	$ 87,000
Income taxes payable	44,000	33,100
Total current liabilities	163,000	120,100
Equity
Common stock, $2 par value	611,200	584,000
Paid-in capital in excess of par value, common stock	224,800	184,000
Retained earnings	125,100	68,500
Total liabilities and equity	$ 1,124,100	$ 956,600

GOLDEN CORPORATION
Income Statement
For Current Year Ended December 31
Sales	$ 1,872,000
Cost of goods sold	1,102,000
Gross profit	770,000
Operating expenses (excluding depreciation)	510,000
Depreciation expense	54,000
Income before taxes	206,000
Income taxes expense	44,400
Net income	$ 161,600

Additional Information on Current Year Transactions

1. Purchased equipment for $63,100 cash.
2. Issued 13,600 shares of common stock for $5 cash per share.
3. Declared and paid $105,000 in cash dividends.

Required:

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

Note: Enter all amounts as positive values.