Golden Manufacturing Company started operations by acquiring $79,800 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $79,800 cash, had an expected useful life of six years, and had an estimated salvage value of $15,960. Golden Manufacturing earned $97,270 and $63,200 of cash revenue during Year 1 and Year 2, respectively. Golden Manufacturing uses double-declining-balance depreciation. Required: Prepare income statements, balance sheets, and statements of cash flows for Year 1 and Year 2. 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
	Year 1	Year 2
Income statements
	$0	$0
Balance sheets
Assets
Total assets	$0	$0
Stockholders equity
Total stockholders equity	$0	$0
Statements of cash flows
Cash flows from operating activities:
Cash flows from investing activities:
Cash flows from financing activities:
Net change in cash	0	0
Ending cash balance	$0	$0