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Golden Corporation's curtent year Income statement, comparatlve balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits
Golden Corporation's curtent year Income statement, comparatlve balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Recelvable reflect cash recelpts 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 Additional Information on Current Year Transactions a. Purchased equipment for $64,800 cash. b. Issued 13,700 shares of common stock for $5 cash per share. c. Declared and paid $106,000 in cash dimdends. Problem 16-6A (Algo) Indirect: Statement of cash flows LO P2, P3 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 a minus sign
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