Golden Manufacturing Company started operations by acquiring $150,000 cash from the issue of common stock. On January 1, 2018, the company purchased equipment that cost $120,000 cash, had an expected useful life of six years, and had an estimated salvage value of $4,000. Golden Manufacturing earned $72,000 and $83,000 of cash revenue during 2018 and 2019, respectively. Golden Manufacturing uses double-declining-balance depreciation.

Required

Record the purchase in a horizontal statements model.

b-1.Prepare an income statements for 2018 and 2019. Use a vertical statements format.

b-2.Prepare a balance sheets for 2018 and 2019. Use a vertical statements format.

b-3. Prepare a statements of cash flows for 2018 and 2019. Use a vertical statements format.

Golden Manufocturing Company storted operations by acquiring $150000 cosh from the issue of common stock. On Jonuary 1, 2018. the company purchased equipment that cost S120,000 cash, had an expected useful life of six years, and had an estimated salvage volue of $4,000. Golden Manufocturing earned $72.000 and $83,000 of cosh revenue during 2018 and 2019, respectively. Golden Manufacturing uses couble-declining-balance depreciation Required a. Record the purchase in a horizontal statements model. b 1.Prepore an income statements for 2018 and 2019. Use vertical statements format b-ZPrepare belance sheets for 2018 and 2019. Use vertical statements format. b-3. Prepare a statements of cash flows for 2018 and 2019 Use a vertical statements format Complete this question by entering your answers in the tabs below. Req Bl Inc Req B2 BReq B3 Stmt Sheet Stmt Cash Record the purchase in a horizontal statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (TA), a financing activity (FA) and net change in cash (NC). The letters NA indicate that an element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign. Do not round intermediate calculations. Round the final answers to nearest dollar amount.) Show less Balance Sheet Income Statement Equity Statement of Cash Flows Assets ost- Revenue-| Expense |-|Net Income Event Ret 2018 ssue stock Revenue Deprediaion expense Balance 2019 Beg. bal. Revenue End bal