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 $ 167,080 87,500 605,500 860,eee 343,000 (159,500) $1,843,500 $ 110,300 74,000 529,000 713,300 3e2,000 (105,500) $ 9e9,800 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 $ 93,000 31,000 124,000 $ 74, eee 26,600 100,600 595,600 201,400 122,500 $1,043,500 571,000 164,500 73,700 $ 909,800 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 54,000 Other expenses 497,000 Income before taxes Income taxes expense Net income $1,807,000 1,089,000 718,000 551,000 167,000 26,200 $ 140,800 Additional Information on Current Year Transactions a. Purchased equipment for $41,000 cash. b. Issued 12,300 shares of common stock for $5 cash per share. c. Declared and paid $92,000 in cash dividends. Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as posi . Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positive GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31, Prior Debit Year Credit December 31, Current Year Balance sheet debit balance accounts Cash $ 110,300 $ 167,000 74.000 Accounts receivable Inventory Equipment 529,000 302.000 1,015,300 $ $ 167,000 $ Balance sheet-credit balance accounts Accumulated depreciation-Equipment Accounts payable Income taxes payable Common stock, 52 par value Paid-in capital in excess of par value. common stock 105,500 74.000 26,600 571,000 164.500