Required information

$[$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.

Additional Information on Current Year Transactions

a$.$ Purchased equipment for $$54,600$ cash.

b$.$ Issued $13,100$ shares of common stock for $$5$ cash per share.

c$.$ Declared and paid $$100,000$ in cash dividends.

Required:

Prepare a complete statement of cash flows using the direct method for the current year.

Note: Amounts to be deducted should be indicated with a minus sign.