Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, Problem $12-6$A $($Algo$)$ Indirect: Statement of cash flows LO P$2,$ P$3$

Required:

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

Note: Amounts to be deducted should be Indlcated with a minus sign.

$\backslash$table$[[$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$],[,,],[$P$],[(],[\backslash$table$[[,]]],[,,],[$P$,$$$,0],[$Cash flows from investing activities$],[$C$],[2],[$L$,,0],[$Cash flows from financing activities:$],[$C$,,],[2],[],[$F$,,0],[$Net increase $($decrease$)$ in cash,$$,0],[$Cash balance at December $31,$ prior year$],[$Cash balance at December $31,$ current year,S$,0]]$

$(1)$ 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.