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Help Save & Exit Submit Required information [The following information applies to the questions displayed below) 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 $ 181,000 205,500 626.50 916,000 380,00 (266,500 $1,130,300 Prior Year $ 125,700 88,000 543.600 756700 316, eee (112,500) 5.960.200 Assets Cash Accounts receivable Inventory Total current assets Equipment Acces depreciation Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock. $2 per value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity $ 33,000 33,600 121.00 $ 121,00 45,000 166.000 612,400 226.600 125.300 51,130,100 555,600 185, see 68.100 5960,200 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 $1,877, eee 1.100.000 cast food and GOLDEN CORPORATION Income Statent Far Current Year Ended December 31 Sales Cost of goods sold Gross profit operating expenses Depreciation expense $ 54,000 Other expenses 511,000 Income before taxes Income tax expense Net Inc 11.677.ee 1.183,000 774.000 565,000 209,000 45,00 163,200 Additional Information on Current Year Transactions a. Purchased equipment for 564 800 cash b. Issued 13,700 shares of common stock for $5 cash per share c. Declared and paid $106.000 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 Surement of Cash Flow For Current Year Ended December 31 Analysis of Changes December 31Pro De Credit Year Deter Current $ 5 181,000 Bale shoulder blanc counts Cash Accounts ronible 125,700 8000 543.000 318.000 1,072.700 End 5 181.000 5 chancesco rasheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31. Prior Debit Year Credit December 31 Current Year 5 5 101.000 Bhole balance account Cah Acontecer Iron Equipment 125,700 000 143.000 316,000 1,072.700 5 Toto 5 Balance shoot counts Amiste depreciation-Eument Account income tas payati Common stock, 2 para Padin capital in excess of para common stock Retained ang 112.500 38.000 33.000 585.000 115.500 6,100 1.072.700 5 Set of cash flows Doring activ 8 { 25 2518 Next $ Accumulated depreciation - Equipment Accounts payable Income taxes payable Common stock $2 par value Paid-in capital in excess of par value, common stock Retnined oamings 112.500 88,000 33,600 585.000 185,500 68,100 1.072.700 $ $ 0 Statement of cash flows Operating activities Investing activities Financing activities $ 0 $ 0
