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Requlred Information [The following information applles to the questions displayed below] Golden Corporation's current year income statement, comparative baiance sheets, and additional information follow. For

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Requlred Information [The following information applles to the questions displayed below] Golden Corporation's current year income statement, comparative baiance sheets, and additional information follow. For the year, (1) 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. and (5) any change in income Taxes Payable reflects the accrual and cash payment of taxes. 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 paid $89,000 in cash dividends Requlred: Prepare a complete statement of cash flows using the direct method for the current year. Note: Amounts to be deducted should be Indlcated with a minus slan

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