Required information Use the following information for the Problems below. 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, (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 (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. GOLDEN CORPORATION Comparative Balance sheet December 31 Prior Year Current Year S 165,000 64.500 602,500 352,000 337.100 (25000 $1.031, 100 # 100, 100 72.000 527.000 107, 100 300,000 204,500 Assets Cach Accounts receivable Inventory Total current assets quent Monum depreciation Equipment Total asset Liabilities and soil counts payable Thome taxes payable Total current abilities Equity Comstock: PRE value Pidin capital of par value, con COOK ne sa Totalities and equity 5 22.000 35,600 97.60 39.600 29.000 110,000 593,200 177.00 122100 $1.031, 100 569.000 161,500 74.500 $ 302,600 GOLDEN CORPORATION Income Statement Tor Current Year Ended December 31 Sales $1,797.000 Cost of goods sold 1,087,000 Gross profit 710,000 Operating expenses Depreciation expense $ 54,000 Other expenses 495.000 549,000 Income before taxes 161,000 Income taxes expense 23,400 Net Income $ 137,600 Additional Information on Current Year Transactions a. Purchased equipment for $37,600 cash. b. Issued 12,100 shares of common stock for $5 cash per share. c. Declared and paid $90,000 in cash dividends Problem 16-7AA Indirect: Cash flows spreadsheet LO P4 Required: Prepare a complete statement of cash flows using a spreadsheet under the Indirect method (Enter all amounts as positive values.) GOLDEN CORPORATION Spreadsheet for Statement of Cash Flow For Current Year Ended December 31 Analysis of Changes GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31, Prior Debit Credit Year December 31. Current Year Balance sheetdebit balance accounts Cash $ $ 165,000 Accounts receivable Inventory Equipment 108,100 72,000 527,000 300,000 1,007,100 $ $ 165,000 $ 104,500 72,000 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 slock Retained earnings 25,600 569.000 161 500 74,500 1,007,100 $ Statement of cash flows Operating activities Retained earnings 74,500 1,007,100 $ $ 0 Statement of cash flows Operating activities Investing activities Financing activities $ OS 0