Statement of Cash Flow is for reference.

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 Sheets December 31 Current Year Prior Year Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total 1 abilities and equity $ 184,000 113,000 631,000 928,000 388,900 (168,000) $1,148,900 $ 129,000 91,000 546,000 766,000 319,eee (114,000) $ 971,000 $ 127,000 48,000 175, eee $ 91,00 35, 100 126,100 616,000 232,000 125,900 $1,148,900 588,000 190,089 66,900 $ 971,000 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 54,000 Other expenses 514,000 Income before taxes Income taxes expense Net Income $1,892,000 1,106,000 786,000 568.000 218,000 50 000 168,000 Additional Information on Current Year Transactions a. Purchased equipment for $69.900 cash, Answer is complete and correct. GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Net income $ 168,000 Adjustments to reconcile net income to net cash provided by operations: Accounts receivable increase (22,000) Inventory increase (85,000) Accounts payable increase 36,000 Income taxes payable increase 12,900 Depreciation expense 54,000 > $ 163,900 Net cash provided by operating activities Cash flows from investing activities Cash paid for equipment > (69,900) > (69,900) Net cash used in investing activities Cash flows from financing activities: Cash received from stock issuance Cash paid for cash dividends 70,000 (109,000) Net cash used in financing activities Net increase (decrease) in cash Cash balance at December 31, prior year Cash balance at December 31, current year (39,000) 55,000 129,000 $ 184,000 Required information Balance sheet-debit balance accounts Year 2 Current Year Cash $ $ 184,000 Accounts receivable Inventory Equipment 129.000 91,000 546,000 319.000 1.085.000 $ $ 184.000 $ 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 stock Retained earnings 114,000 91,000 35.100 588.000 190,000 66,900 1.085.000 $ Statement of cash flows Operating activities $ 0 Investing activities Financing activities