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 175,000 99,500 617. See 892,800 364,600 (163,500) $1,093, 100 $ 119, 100 82,800 537,890 738,100 310,800 (109, see) $ 938,500 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, 52 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity $ 109,000 39,800 148,00 82,800 32,600 112,600 605, 20e 215,800 124.ee $1,093, 109 579,000 176,500 70,500 $938,500 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales $1,847, eee 1.897 000 750, ege Gross profit Operating expenses Depreciation expense Other expenses Income before taxes Income taxes expense Net income $ 54, eae 5es,eee 559, eee 191.ee 37.480 153,500 $ Additional Information on Current Year Transactions o. Purchased equipment for $54,600 cash. b. Issued 13,100 shares of common stock for $5 cash per share. c. Declared and paid $100.000 in cash dividends. Required information Sto Clos For Current Year Ended December Cash flows from operating activities ating activities Adjustments to reconcile net income to net cash provided by operations: Cash flows from investing activities Cash flows from financing activities Net increase (decrease in cash Cash balance at December 31. onor year Cash balance at December 31, current year