Golden Corp'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 (5) Other Expenses are all cash expenses, and (6) 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 181,000 108,588 626,500 916,089 380,800 (166, 500) $1,130,300 $ 125,700 88, ee 543,000 756,700 316,800 (112,500) $ 968,200 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. 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 st Retained earnings Total liabilities and equity $ $ 121,000 45,000 166,000 88,000 33,600 121,600 612,400 226,600 225300 1,130,300 585,000 185,500 68.100 $ 960,200 GOLDEN CORPORATION 2005 05 Nggs For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations: Cash flows from investing activities flows from financing activities