quirea intormation se the following information for the Problems below. 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 jear. (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 Prior Year $ 184,000 113.000 631,000 Accounts receivable Inventory Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and wity Mccounts payable Income taxes payable Total current liabilities $ 129,000 91,000 546.000 766,000 119.000 (114.000) 389,900 (168,000) $1,148, 900 $ 127,000 $ 91,000 126, 100 tock Common stock, 52 par value Dainitalin B ot par walue, Retained earnings Total liabilities and equity 588,000 190.000 66.900 $971.000 $1,149,900 GOLDEN CORPORATION search Oie JUUUUUUU COLEEN CORPORATION Income statement For Current Year Ended December 31 $1.892,000 Cost of goods sold 1.106.000 Gross proti 786,000 Operating expenses Depreciation expense $ 54.000 other expenses 514.000 560.000 Income before taxes 210,000 Income tax expense 50,000 Not income $ 168.000 Additional Information on Current Year Transactions a. Purchased equipment for $69.900 cash b. Issued 14,000 shares of common stock for $5 Cash per share c. Declared and paid $109.000 in cash dividends. Problem 12-6A Indirect: Statement of cash flows LO P2, P3 Required: Prepare a complete statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows O e ADNJUUUUU Required information GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Depreciation expense Accounts receivable increase Inventory increase Accounts payable increase Income taxes payable increase Net cash provided by financing activities Cash flows from investing activities Cash flows from financing activities