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

$ 167,000

87,500

605,500

860,000

343,000

(159, 500)

$ 1,043,500

$ 93,000

31,000

124,000

595,600

201,400

122,500

$ 1,043,500

Prior Year

$ 110,300

74,000

529,000

713,300

302,000

(105,500)

$ 909,800

$ 74,000

26,600

100,600

571,000

164,500

73,700

$ 909,800

Assets

Cash

Accounts receivable

Inventory

Total current assets

Equipment

Accumulated depreciation-Equipment

Total assets

Liabilities and Equity

Accounts payable

Income taxes payable

Total current liabilities

Equity

Common stock, $2 par value

Paid-in capital in excess of par value, common stock Retained earnings

Total liabilities and equity

GOLDEN CORPORATION

Income Statement

For Current Year Ended December 31

Sales

Cost of goods sold

Gross profit

Operating expenses (excluding depreciation)

Depreciation expense

Income before taxes

Income taxes expense

Net income

Additional Information on Current Year Transactions

A. Purchased equipment for $41,000 cash.

B. Issued 12,300 shares of common stock for $5 cash per share.

C. Declared and paid $92,000 in cash dividends.

Prepare a complete statement of cash flows using the indirect method for the current year.

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, (B) 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. Additional Information on Current Year Transoctions a. Purchased equipment for $41,000 cash. Required: Prepare a complete statement of cash flows using the indirect method for the current year Note: Amounts to be deducted should be indicated with o minus sign