Problem 16-7AA (50 minutes) GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Year Ended December 31, 2015 December Analysis of Changes December 31, 2014 Debit 31, 2015 Credit Balance sheet- debits Cash $107,000 $164,000 Accounts receivable 71,000 (b) s 12,000 83,000 Inventory 526,000 (c) 75,000 601,000 Equipment 299,000 (g) 36,000 335,000 $1,003,000 $1,183,000 Balance sheet Balance sheet- credits Accum. depreciation $ 104,000 Equip. (10 $54,000 $158,000 Accounts payable 71,000 (d) 16,000 87,000 Income taxes payable 25,000 (e) 3,000 28,000 Common stock, $2 par value 568,000 (h) 24,000 592,000 Paid-in capital in excess of 160,000 (h) 36,000 196,000 par value, common stock Retained earnings 75,000 (0 89,000 (a) 136,000 122,000 $1,003,000 $1,183,000 Net income (a) 136,000 Increase in accounts receivable (b) 12,000 Increase in merch. inventory (c) 75,000 Increase in accounts (d) 16,000 payable Increase in income tax payable (e) 3,000 Depreciation expense ( 54,000 Investing activities Payment for equipment (g) 36,000 Financing activities Issued common stock for cash (h) 60,000 Paid cash dividends (0 89,000 $481,000 $481,000 89,000 Paid cash dividends $481,000 $481,000 Problem 16-7AA (Concluded) GOLDEN CORPORATION Statement of Cash Flows For Year Ended December 31, 2015 Cash flows from operating