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Requlred Information Use the following information for the Problems below. (Algo) [The following Information applles to the questions displayed below.] Golden Corporation's current year Income
Requlred Information Use the following information for the Problems below. (Algo) [The following Information applles to the questions displayed below.] Golden Corporation's current year Income statement, comparatlve balance sheets, and additional Information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Recelvable 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 equilpment for $66,500 cash. b. Issued 13,800 shares of common stock for $5 cash per share. c. Declared and pald $107,000 in cash dividends. Requlred: Prepare a complete statement of cash flows using the Indirect method for the current year. (Amounts to be deducted should be Indlcated with a minus sign.)
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