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		$	178,000					$	122,400
Accounts receivable			104,000						85,000
Inventory			622,000						540,000
Total current assets			904,000						747,400
Equipment			372,700						313,000
Accum. depreciationEquipment			(165,000	)					(111,000	)
Total assets		$	1,111,700					$	949,400
Liabilities and Equity
Accounts payable		$	115,000					$	85,000
Income taxes payable			42,000						32,100
Total current liabilities			157,000						117,100
Equity
Common stock, $2 par value			608,800						582,000
Paid-in capital in excess of par value, common stock			221,200						181,000
Retained earnings			124,700						69,300
Total liabilities and equity		$	1,111,700					$	949,400

GOLDEN CORPORATION Income Statement For Current Year Ended December 31
Sales				$	1,862,000
Cost of goods sold					1,100,000
Gross profit					762,000
Operating expenses
Depreciation expense	$	54,000
Other expenses		508,000			562,000
Income before taxes					200,000
Income taxes expense					41,600
Net income				$	158,400

Additional Information on Current Year Transactions

1. Purchased equipment for $59,700 cash.
2. Issued 13,400 shares of common stock for $5 cash per share.
3. Declared and paid $103,000 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 $ $ 178,000 Accounts receivable Inventory Equipment 122,400 85,000 540,000 313,000 1,060,400 $ $ 178,000 Balance sheet-credit balance accounts Accumulated depreciation Equipment Accounts payable Income taxes payable Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings 111,000 85,000 32,100 582,000 181,000 69,300 1,060,400 Statement of cash flows Operating activities Investing activities Financing activities Financing activities 0 $ 0