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 Income Statement For Current Year Ended December 31
Sales				$	1,822,000
Cost of goods sold					1,092,000
Gross profit					730,000
Operating expenses
Depreciation expense	$	54,000
Other expenses		500,000			554,000
Income before taxes					176,000
Income taxes expense					30,400
Net income				$	145,600

Additional Information on Current Year Transactions

1. Purchased equipment for $46,100 cash.
2. Issued 12,600 shares of common stock for $5 cash per share.
3. Declared and paid $95,000 in cash dividends.

Required: Prepare a complete statement of cash flows using the direct method for the current year.

GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year $ 170,000 92,000 610,000 872,000 351,100 (161,000) $1,062, 100 $ 113,600 77,000 532,000 722,600 305,000 (107,000) $ 920,600 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 stock Retained earnings Total liabilities and equity $ 99,000 34,000 133,000 77,000 28,100 105,100 599, 200 206,800 123,100 $1,062,100 574,000 169,000 72,500 $ 920,600