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	$ 173,000	$ 116,900
Accounts receivable	96,500	80,000
Inventory	614,500	535,000
Total current assets	884,000	731,900
Equipment	359,200	308,000
Accumulated depreciationEquipment	(162,500)	(108,500)
Total assets	$ 1,080,700	$ 931,400
Liabilities and Equity
Accounts payable	$ 105,000	$ 80,000
Income taxes payable	37,000	29,600
Total current liabilities	142,000	109,600
Equity
Common stock, $2 par value	602,800	577,000
Paid-in capital in excess of par value, common stock	212,200	173,500
Retained earnings	123,700	71,300
Total liabilities and equity	$ 1,080,700	$ 931,400

GOLDEN CORPORATION
Income Statement
For Current Year Ended December 31
Sales	$ 1,837,000
Cost of goods sold	1,095,000
Gross profit	742,000
Operating expenses (excluding depreciation)	503,000
Depreciation expense	54,000
Income before taxes	185,000
Income taxes expense	34,600
Net income	$ 150,400

Additional Information on Current Year Transactions

Purchased equipment for $51,200 cash.

Issued 12,900 shares of common stock for $5 cash per share.

Declared and paid $98,000 in cash dividends.

Required Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positive values.)

GOLDEN CORPORATION
Spreadsheet for Statement of Cash Flows
For Current Year Ended December 31
	December 31, Prior Year	Analysis of Changes		December 31, Current Year
		Debit	Credit
Balance sheetdebit balance accounts
Cash	$116,900			$173,000
Accounts receivable	80,000
Inventory	535,000
Equipment	308,000
	$1,039,900
Balance sheetcredit balance accounts
Accumulated depreciationEquipment	$108,500
Accounts payable	80,000
Income taxes payable	29,600
Common stock, $2 par value	577,000
Paid-in capital in excess of par value, common stock	173,500
Retained earnings	71,300
	$1,039,900
Statement of cash flows
Operating activities
Investing activities
Financing activities