Prepare a complete statement of cash flows using the direct method for the current year. Please use the template below. The highlighted areas are answer slots.

Please include working notes for my understanding. Thank you!!

Golden Corporation'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, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. Additional Information on Current Year Transactions a. Purchased equipment for $36,000 cash. b. Issued 12,000 shares of common stock for $5 cash per share. c. Declared and paid $89,000 in cash dividends. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ GOLDEN CORPORATION } \\ \hline \multicolumn{2}{|c|}{ For Current Year Ended December 31} \\ \hline Cash flows from operating activities & & \\ \hline Cash received from customers & & \\ \hline Cash paid for inventory & & \\ \hline Cash paid for operating expenses & & \\ \hline Cash paid for income taxes & & \\ \hline & & \\ \hline & & \\ \hline Cash flows from investing activities & & \\ \hline Cash paid for equipment & & \\ \hline & & \\ \hline & & \\ \hline Cash flows from financing activities & & \\ \hline Cash paid for dividends & & \\ \hline Cash received from issuing stock & & \\ \hline & & \\ \hline & & \\ \hline Net increase (decrease) in cash & & \\ \hline Cash balance at December 31, prior year & & \\ \hline Cash balance at December 31, current year & & \\ \hline \hline \end{tabular}