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
Assets
Cash		$	169,000					$	112,500
Accounts receivable			90,500						76,000
Inventory			608,500						531,000
Total current assets			868,000						719,500
Equipment			348,400						304,000
Accum. depreciationEquipment			(160,500	)					(106,500	)
Total assets		$	1,055,900					$	917,000
Liabilities and Equity
Accounts payable		$	97,000					$	76,000
Income taxes payable			33,000						27,600
Total current liabilities			130,000						103,600
Equity
Common stock, $2 par value			598,000						573,000
Paid-in capital in excess of par value, common stock			205,000						167,500
Retained earnings			122,900						72,900
Total liabilities and equity		$	1,055,900					$	917,000

GOLDEN CORPORATION Income Statement For Current Year Ended December 31
Sales				$	1,817,000
Cost of goods sold					1,091,000
Gross profit					726,000
Operating expenses
Depreciation expense	$	54,000
Other expenses		499,000			553,000
Income before taxes					173,000
Income taxes expense					29,000
Net income				$	144,000

Additional Information on Current Year Transactions

1. Purchased equipment for $44,400 cash.
2. Issued 12,500 shares of common stock for $5 cash per share.
3. Declared and paid $94,000 in cash dividends.

Required: Prepare a complete statement of cash flows using the direct method for the current year. (Amounts to be deducted should be indicated with a minus sign.)