Golden Corp's current year Income statement, comparative balance sheets, and additional information follow. For the year. (1) al 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 Assets Caah Accounts receivable Inventory Total current assets Equipment decu. depreciation Equipment Totalaust Liabilities and Equity recounts payable Income taxes payable Total current liabilities Equity Common stock, 2 par value Pald-in capital in excess of value common stock Betained ning Total Liabilities and equity $ 181,000 108,500 626,500 916,000 380.800 (266,500 91,130,300 $ 125,700 88,000 543,000 756,700 316,000 112..500) $950,200 $ 121,000 45,000 166,000 612,400 226,600 125,300 $1,130,10 $ 88,000 33.600 121,600 SA5,000 185,500 0.100 560,200 GOLDEN CORPORATION The statement Toe Current Yar inded December 31 Salon 11,477,000 Coat of goods sold 1,103,000 Grone proti 774.000 Operating expenses Depreciation expense $ 54,000 Other expenses 511,000 565,000 MacBook Air HT > * $ 4 3 % 5 & 7 6 8 9 0 E R T Y I GOLDEN CORPORATION Inco Statenent For Current Year Ended December 31 Sales $1,877,000 Cost of goods sold 1,103,000 Gross profit 774,000 Operating expenses Depreciation expense $ 54,000 Other expenses 511,000 565,000 Income before taxes 209,000 Income taxes expense 45,800 Net Income $ 163,200 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 dividends, Required: Prepare a complete statement of cash flows using the Indirect method for the current year (Amounts to be deducted Indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to not cash provided by operations MacBook Air PIL $ % Required information To Cut Year Ended Dubai Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations $ 0 Cash flows from investing activities 0 Cash flows from financing activities: 0 3 0 Not increase (decrease) in cash Cash balance at December 31. prior year Cash balance at December 31, current yes $ 0 MacBook Air Po FS A 2 $ 4 3 % 5 & 7 6 8 9 W E R. T Y U