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 pelyment of taxes. Additional Information on Current Year Transactions a. Purchased equipment for $44,400 cash. Additional Information on Current Year Transactions a. Purchased equipment for $44,400 cash. b. Issued 12,500 shares of common stock for $5 cash per share. c. Declared and paid $94,000 in cash dividends. Required: Prepare a complete statement of cash flows using the indirect method for the current year. (Amounts deducted should be indicated with a minus sign.) Required information GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: \begin{tabular}{|l|} \hline Income statement items not affecting cash \\ \hline Depreciation expense \\ \hline Changes in current assets and current liabilities \\ \hline Increase in accounts receivable \\ \hline Increase in inventory \\ \hline Increase in prepaid expenses \\ \hline Decrease in accounts payable \\ Increase in taxes payable \\ \hline \end{tabular} Cash flows from investing activities Cash flows from financing activities: Changes in current assets and current liabilities