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Required information Skip to question [ The following information applies to the questions displayed below. ] Golden Corporation's current year income statement, comparative balance sheets,

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[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,
(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.
GOLDEN CORPORATION
Comparative Balance Sheets
December 31
Current Year Prior Year
Assets
Cash $ 175,000 $ 119,100
Accounts receivable 99,50082,000
Inventory 617,500537,000
Total current assets 892,000738,100
Equipment 364,600310,000
Accumulated depreciationEquipment (163,500)(109,500)
Total assets $ 1,093,100 $ 938,600
Liabilities and Equity
Accounts payable $ 109,000 $ 82,000
Income taxes payable 39,00030,600
Total current liabilities 148,000112,600
Equity
Common stock, $2 par value 605,200579,000
Paid-in capital in excess of par value, common stock 215,800176,500
Retained earnings 124,10070,500
Total liabilities and equity $ 1,093,100 $ 938,600
GOLDEN CORPORATION
Income Statement
For Current Year Ended December 31
Sales $ 1,847,000
Cost of goods sold 1,097,000
Gross profit 750,000
Operating expenses (excluding depreciation)505,000
Depreciation expense 54,000
Income before taxes 191,000
Income taxes expense 37,400
Net income $ 153,600
Additional Information on Current Year Transactions
Purchased equipment for $54,600 cash.
Issued 13,100 shares of common stock for $5 cash per share.
Declared and paid $100,000 in cash dividends.
Required:
Prepare a complete statement of cash flows using a spreadsheet under the indirect method.
Note: Enter all amounts as positive values.

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