Problem 12-6A indirect: Statement of cash flows LO P1, P2, P3 sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3)all purchases of inventory are on credit, 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 refects the accrual and cash payment of taxes. The company's balance sheets and income statement follow. GOLDEN CORPORATION Comparative Balance Sheets December 31, 2015 and 2014 2015 2014 Cash 205.000 141.000 Accounts receivable 96,000 73,000 619,000 535.000 Total current assets 920,000 749,000 Equipment 355,000 317,000 Accum, depreciation Equipment (171,000) (113,000) Total assets $1,104.000 $953.000 Liabilities and Equity s 96,000 s 80,000 Accounts payable Income taxes payable 40,000 34,000 Total current liabilities 136,000 114,000 Equity Common stock, $2 par value 612.000 586.000 Paid-in capital in excess of par value, common stock 208,000 169,000 Retained earnings 148,000 84,000 Total liabilities and equity $1,104,000 $953,000 GOLDEN CORPORATION Income Statement For Year Ended December 31, 2015 1,837,000 Sales Cost of goods sold 1,095,000 742,000 Operating expenses Depreciation expense 561,000 Other expenses 503,000 181,000 Income before taxes Income taxes expense