Please answer the "Cash" item and indicate whether it is a "debit" or a "credit".

[The following information applies to the questions displayed below.) Golden Corporation's current year income statement. comparative balance sheets, and additional information follow. For the year. (I) 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, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. GOLDEN CORPORATION Comparative Balance Sheets 31 Accounts receivable ntory Total c Equiprnent AC ted Equip T amts Liabilities and Equity counts payable tms Total current Gabi Eties Equi ty Common stock, $2 par value Paid-in capital in Of par common Stock Retained earnings Total liabilits eqLty GOLDEN CORPORATION IrkOrne Statement For Current Year Ended 31 Sales Cost Of goods sold Cross profit Operating expenses dpreciation) Depruiation expense Income before taxes Income taxes expense Net income Additional Information on Current Year a. Purchased equipment for $36,000 cash. Year S 164,000 83,000 GO ,OOO B4g,000 335,000 (1 sg,000) $ 87,000 28,000 11 5,000 592,000 196.000 122 prior Year S 107,000 71,000 S2G,OOO 704,000 299,000 (104,000) s 899,000 $71 ,ooo 25,000 96,000 568,000 160.000 75,000 s 899,000 S 1.792.ooo 706,000 494.000 34,000 58,000 22.000 S 36,000 b. Issued 12,000 shares of common stock for SS cash per share. c. Declared and paid $89,000 in cash dividends. Prepare a complete statement of cash flows using a spreadsheet under the indirect Note: Enter all amounts as positive values. Spreadsheet for Statement Of Cash Fl ows For Current Year Ended December 31 A Of Changes Balance sheetdebit balance accounts Accounts receivable Equipment Balance dit balance iprn ent Accounts payable taxes payable Common stock. $2 par value Paid-in capital in of par common Retained earnings ot cash Operating activities Depreciation Increase in accounts receivable Increase in inco,mo tax payable Increase In V esting activities Financing activities comon stock for cash Paid cash dividends December 31, Prior 107,000 71.000 526,000 299.000 1.003,000 104,000 71.000 568.000 160,000 75.000 12.000 75,000 36,000 16,000 136,000 60,000 December 31, 164,000 601.000 335,000 1,183.000 158,000 87 00 211.000 54,000 16.000 24000 36,000 136.000 12.000 75,000 36,000 89.000