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		$	165,000					$	108,100
Accounts receivable			84,500						72,000
Inventory			602,500						527,000
Total current assets			852,000						707,100
Equipment			337,600						300,000
Accum. depreciationEquipment			(158,500	)					(104,500	)
Total assets		$	1,031,100					$	902,600
Liabilities and Equity
Accounts payable		$	89,000					$	72,000
Income taxes payable			29,000						25,600
Total current liabilities			118,000						97,600
Equity
Common stock, $2 par value			593,200						569,000
Paid-in capital in excess of par value, common stock			197,800						161,500
Retained earnings			122,100						74,500
Total liabilities and equity		$	1,031,100					$	902,600

GOLDEN CORPORATION Income Statement For Current Year Ended December 31
Sales				$	1,797,000
Cost of goods sold					1,087,000
Gross profit					710,000
Operating expenses
Depreciation expense	$	54,000
Other expenses		495,000			549,000
Income before taxes					161,000
Income taxes expense					23,400
Net income				$	137,600

Additional Information on Current Year Transactions

1. Purchased equipment for $37,600 cash.
2. Issued 12,100 shares of common stock for $5 cash per share.
3. Declared and paid $90,000 in cash dividends.

Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positive values.)

GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31, Prior Debit Credit Year December 31, Current Year $ Balance sheet-debit balance accounts Cash Accounts receivable Inventory Equipment 108,100 72,000 527,000 300,000 1,007,100 $ $ 165,000 Balance sheet-credit balance accounts Accumulated depreciationEquipment Accounts payable Income taxes payable Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings 104,500 72,000 25,600 569,000 161,500 74,500 1,007,100 $ Statement of cash flows Operating activities Investing activities Financing activities 0 $