Golden Manufacturing Company started operations by acquiring $104,300 cash from the issue of common stock. On January 1, 2016, the company purchased equipment that cost $104,300 cash, had an expected useful life of six years, and had an estimated salvage value of $20,860. Golden Manufacturing earned $93,390 and $64,790 of cash revenue during 2016 and 2017, respectively. Golden Manufacturing uses double-declining-balance depreciation.

Required:

Prepare income statements, balance sheets, and statements of cash flows for 2016 and 2017. Use a vertical statements format. (Hint: Record the events in T-accounts prior to preparing the statements.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Amounts to be deducted and net loss should be indicated with a minus sign.)

GOLDEN MANUFACTURING COMPANY
Financial Statements
	2016	2017
Income statements
Balance sheets
Assets
Total assets
Stockholders equity
Total stockholders equity
Statements of cash flows
Cash flows from operating activities:
Cash flows from investing activities:
Cash flows from financing activities:
Net change in cash
Ending cash balance