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 the indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.)

GOLDEN CORPORATION
Statement of Cash Flows
For Current Year Ended December 31
Cash flows from operating activities
Adjustments to reconcile net income to net cash provided by operations:
Income statement items not affecting cash
Changes in current assets and current liabilities
		$0
Cash flows from investing activities
		0
Cash flows from financing activities:
		0
Net increase (decrease) in cash		$0
Cash balance at December 31, prior year
Cash balance at December 31, current year		$0