Required Information [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 year,(0) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash recelpts 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 taxes. GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year $ 164, een 83,000 601,000 848,000 335,000 (158,000) $1,025,000 $ 107,888 71,800 526,000 784,000 299,000 (104,080) $ 899,880 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity s $ 87, e80 28,000 115,000 592,000 196,000 122,000 $1,025,000 $ 71,000 25,000 96,668 568,000 160,000 75,000 $ 899,000 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales $1,792,800 Cost of goods sold 1,086,000 Gross profit 706,000 Operating expenses Depreciation expense $ 54,988 Other expenses 494,883 548,000 Income before taxes 158,000 Income taxes expense 22,000 Net income $ 136, Bee Additional Information on Current Year Transactions a. Purchased equipment for $36.000 cash. b. Issued 12,000 shares of common stock for $5 cash per share. c. Declared and pald $89,000 in cash dividends. Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positive va GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes C. PAN AKI AHLI CHI CIVILION Required information Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positiu GOLDEN CORPORATION Spreadsheet for Statement of Cash Flowa For Current Year Ended December 31 Analysis of Changes December 31, Prior Year Debit Credit Decamber 31 Current Year Balance sheet debit balance accounts $ 164,000 Cash $ 107.000 71,000 Accounts receivable Inventory Equipment 526.000 299,000 1,003,000 $ $ Balance sheet credit balance accounts Accumulated depreciation Equipment Accounts payable Income taxes payable Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings 104,000 71.000 25,000 568,000 160,000 75,000 1,003,000 $ Statement of cash flows Operating activities Investing activities Financing activities