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	$ 169,000	$ 112,500
Accounts receivable	90,500	76,000
Inventory	608,500	531,000
Total current assets	868,000	719,500
Equipment	348,400	304,000
Accumulated depreciationEquipment	(160,500)	(106,500)
Total assets	$ 1,055,900	$ 917,000
Liabilities and Equity
Accounts payable	$ 97,000	$ 76,000
Income taxes payable	33,000	27,600
Total current liabilities	130,000	103,600
Equity
Common stock, $2 par value	598,000	573,000
Paid-in capital in excess of par value, common stock	205,000	167,500
Retained earnings	122,900	72,900
Total liabilities and equity	$ 1,055,900	$ 917,000

GOLDEN CORPORATION
Income Statement
For Current Year Ended December 31
Sales	$ 1,817,000
Cost of goods sold	1,091,000
Gross profit	726,000
Operating expenses (excluding depreciation)	499,000
Depreciation expense	54,000
Income before taxes	173,000
Income taxes expense	29,000
Net income	$ 144,000

Additional Information on Current Year Transactions

1. Purchased equipment for $44,400 cash.
2. Issued 12,500 shares of common stock for $5 cash per share.
3. Declared and paid $94,000 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.)