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. Assets Cash Accounts receivable Inventory Total current assets GOLDEN CORPORATION Comparative Balance Sheets December 31 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 Current Year $ 183,000 111,500 629,500 924,000 386,200 (167,500) $ 1,142,700 $ 125,000 47,000 172,000 614,800 230,200 125,700 $ 1,142,700 Prior Year $ 127,900 90,000 545,000 762,900 318,000 (113,500) $967,400 $ 90,000 34,600 124,600 587,000 188,500 67,300 $ 967,400

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. Additional Information on Current Year Transactions a. Purchased equipment for $68,200 cash. b. Issued 13,900 shares of common stock for $5 cash per share. c. Declared and paid $108,000 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