Required information The following Information applies to the questions displayed below.) Golden Corp., a merchandiser, recently completed its 2018 operations. For the year, (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. The company's balance sheets and income statement follow References GOLDEN CORPORATION Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 176,000 101.000 619,000 896,000 367,00 (164,000) $1,099,300 $ 120,200 3,000 538,000 741,200 311.000 (110,000) $942,200 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, 92 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity $ 111.000 40.000 151,000 83.000 1.100 114, 100 616,000 208,000 126,300 $1.099,300 589,600 168.400 70.100 942.200 Help 5 Ch 12 - Homework Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity 616,000 208.000 124,300 $1,099,300 589,600 168.400 7 0,100 $ 942,200 points Print COLDEN CORPORATION Income statement For Year Ended December 31, 2018 Sales $1,052,000 Coat of goods sold 1,098,000 Gross profit 754,000 Operating expenses Depreciation expense $ 54,000 Other expenses 506,000 560.000 Income before taxes 194.000 Income taxes expense 38.800 Set income $ 155,200 Additional Information on Year 2018 Transactions a. Purchased equipment for $56,300 cash. b. Issued 13,200 shares of common stock for $5 cash per share. c. Declared and paid $101.000 in cash dividends. Required: Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirect method. (Amounts to be deducted should be indicated with a minus sign.) p o r monetary Polley-Blackboard Learn Saved Ch 12 - Homework 13 GOLDEN CORPORATION Statement of Cash Flows For Year Ended December 31, 2018 Cash flows from operating activities points eBook Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Print References Changes in current assets and current liabilities Cash flows from investing activities: Cash flows from financing activities: Graw