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. GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year $ 174,000 98,000 616,000 888,000 361,900 (163,000) $ 1,086,900 $ 118,000 81,000 535,000 735,000 309,000 109,000) $ 935.000 Assets Cash Accounts receivable Inventory Total current assets Equipment Accumulated depreciation-Iquipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock. 52 par value paid in capital in excess of par valge, common stock Retained earning Total liabilities and equity $ 107,000 38,000 145,000 $ 81,000 30, 100 111,100 604,000 214.000 123,900 $ 1,036,900 578,000 175,000 70.900 $ 935,000 GOLDEN CORPORATION Tocome statement Por current Year Ended December 31 Sales cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expenso Income before taxes Toone taxes experts Het income 51.842.000 1,096.000 746,000 504,000 54,000 100.000 26,000 $152.000 Additional Information on Current Year Transactions a. Purchased equipment for $52,900 cash b. issued 13,000 shares of common stock for $5 cash per share c. Declared and paid $99.000 in cash dividends. Required: Prepare a complete statement of cash flows using the direct method for the current year. (Amounts to be deducted should be Indicated with a minus sign.) GOLDEN CORPORATION statement of Cash Flows For Current Year Ended December 31 Carmen Required: Prepare a complete statement of cash flows using the direct method for the current year. (Amounts to be deducted should be Indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Not increase (decrease in cash Cash balance at December 31. proveo Cash Balance at December 31, current year