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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

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 $ 166,000 $ 109,200
Accounts receivable 86,000 73,000
Inventory 604,000 528,000
Total current assets 856,000 710,200
Equipment 340,300 301,000
Accumulated depreciationEquipment (159,000) (105,000)
Total assets $ 1,037,300 $ 906,200
Liabilities and Equity
Accounts payable $ 91,000 $ 73,000
Income taxes payable 30,000 26,100
Total current liabilities 121,000 99,100
Equity
Common stock, $2 par value 594,400 570,000
Paid-in capital in excess of par value, common stock 199,600 163,000
Retained earnings 122,300 74,100
Total liabilities and equity $ 1,037,300 $ 906,200
GOLDEN CORPORATION
Income Statement
For Current Year Ended December 31
Sales $ 1,802,000
Cost of goods sold 1,088,000
Gross profit 714,000
Operating expenses (excluding depreciation) 496,000
Depreciation expense 54,000
Income before taxes 164,000
Income taxes expense 24,800
Net income $ 139,200

Additional Information on Current Year Transactions

  1. Purchased equipment for $39,300 cash.
  2. Issued 12,200 shares of common stock for $5 cash per share.
  3. Declared and paid $91,000 in cash dividends.

Required:

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

PLEASE ANSWER WITH DEBIT AND CREDIT INCLUDED, THERE IS AN ANALYSIS OF CHANGE SECTION OF THE SPREADSHEET I HAVE TO FILL OUT WITH DEBIT AND CREDIT INCLUDED.

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