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Should be an easy question: All I need is the Cash flows from investing activities: Problem 12-4A Indirect: Statement of cash flows LO P1, P2,
Should be an easy question: All I need is the Cash flows from investing activities: Problem 12-4A Indirect: Statement of cash flows LO P1, P2, P3 Golden Corp., a merchandiser, recently completed its 2013 operations. 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. The companys balance sheets and income statement follow. hiododf CORPORATION Comparative Balance Sheets December 31, 2013 and 2012 2013 2012 Assets Cash $ 163,000 $ 135,000 Accounts receivable 83,000 73,000 Merchandise inventory 630,000 525,000 Equipment 340,000 286,000 Accum. depreciationEquipment (157,000) (105,000) Total assets $ 1,059,000 $ 914,000 Liabilities and Equity Accounts payable $ 158,000 $ 128,000 Income taxes payable 28,000 25,000 Common stock, $2 par value 592,000 568,000 Paid-in capital in excess of par value, common stock 193,000 157,000 Retained earnings 88,000 36,000 Total liabilities and equity $ 1,059,000 $ 914,000 GOLDEN CORPORATION Income Statement For Year Ended December 31, 2013 Sales $ 1,797,000 Cost of goods sold 1,086,000 Gross profit 711,000 Operating expenses Depreciation expense $ 52,000 Other expenses 499,000 551,000 Income before taxes 160,000 Income taxes expense 23,000 Net income $ 137,000 Additional Information on Year 2013 Transactions a. Purchased equipment for $54,000 cash. b. Issued 12,000 shares of common stock for $5 cash per share. c. Declared and paid $85,000 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.)
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