Golden Manufacturing Company started operations by acquiring $119,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $109,000 cash, had an expected useful life of five years, and had an estimated salvage value of $10,900. Golden Manufacturing earned $89,330 and $63,590 of cash revenue during Year 1 and Year 2, respectively. Golden Manufacturing uses double-declining-balance depreciation.

Required

1. Record the above transactions in a horizontal statements model.

1. b-1. Prepare income statements for Year 1 and Year 2.

1. b-2. Prepare balance sheets for Year 1 and Year 2.

1. b-3. Prepare statements of cash flows for Year 1 and Year 2.

ReqA Req B1 Inc Stmt Req B2 Bal Sheet Req B3 Stmt Cash Golden Manufacturing Company started operations by acquiring $119.000 cash from the issue of common stock On January 1. Yeart the company purchased equipment that cost $109.000 cash, had an expected soflife of five years, and had an estimated salvage value of $10.900. Golden Manufacturing earned 9.30 and $63.590 of cash revenue during Year and Year 2. respectively Golden Manufacturing uses double-dedining-balance depreciation. Required a Record the above transactions in a horizontal statements mode. 1. Prepare income starements for Year 1 and Year 2 2. Prepare balance sheets for War and Year 2 D-3. Prepare statements of cash flows for Year and Year 2 Prepare balance sheets for Year 1 and Year 2. (Do not round dollar amount.) GOLDEN MANUFACTURING COMPANY Balance Sheets As of December 31 Year 1 Complete this question by entering your in the tab halow. Year 2 Assets Magda Dalem Strut Cheet Cash $ 0 S 0 Total Assets Stockholders' equity Record the above transactions in a horizontal statements model in the cach Flow Colum, indicate whether the item is an operating activity (04) an investing activity (IA), a fnancing activity (F) and not change in NC). theme is not affected by the love the call bark. Erber any decreto accounts and cash outflow with a minus sign. Do Otroud molecular Nound the clorur dolara. Malces will requirey. Show less GOLDEN MANUFACTURING COMPANY Maral Statement Mode Enca Sh Income Statement Assets Easty Somerol Cast Ever HTV Consola Reverse Expense - Not Income Ikaw Sok + Esmies Year F 119.000 119000 115.000FA Part (10 30 103000- (1090001 Rew + Depred - Bar 10.000 10.00 119.000 D- gl 18.00 000 Total stockholders' equity $ $ 0 $ 0 Reg A Reg B1 Inc Stmt Reg B2 Bal Sheet Req B3 Stmt Cash ... Cepen pense Endal Prepare statements of cash flows for Year 1 and Year 2. (Cash ou intermediate calculations. Round the final answers to nearest dol + 0. Roq es mi > GOLDEN MANUFACTURING COMPANY Statements of Cash Flows For the Year Ended December 31 Year 1 Cash flows from operating activities Req A Req B1 Inc Stmt Reg B2 Bal Sheet Req B3 Stmt Cash Year 2 Prepare income statements for Year 1 and Year 2. (Don dollar amount.) Cash flows from investing activities GOLDEN MANUFACTURING COMPANY Income Statements For the Year Ended December 31 Year 1 Year 2 Cash flows from financing activities Nel change in cash Ending cash balance $ 0 5