$\backslash$table$[[$GOLDEN CORPORATION$],[3$prosdsheat for $3$tatsmant of Cach Flows$],[$For Current Yaar Endad Dooamber $$1],[,\{$

$\backslash$table$[[$December $$1,$ Frior$],[$Yaser$]]\},$Anelycis of Changes,$\backslash$table$[[$Decembar $$1,],[$Current Ysar$]]],[,$Dablt,Crodt$],[$Balance stoon$-$debit balance acrounts$],[$Cish$,5,123,600,,,179\mathrm{.}000],[$Accounts nocnivebia,,B$4,000,,,],[$Inventory$,,541,000,,,],[$Equtament$,,314,000,,,],[\backslash$xi $,1,064,500,,,179\mathrm{.}000],[$Balonce shont$-$cnodt balance accounts$],[$Acrumulziod dopmestion$-$Equiprert,$,111,600,,,],[$Acrounts paypbic,,$,000,,,],[$Income taws poyphis,,$32\mathrm{.}600,,,],[$Common stock, $$2$ par valuo,,$583,000,,,],[$Faid$-$in capial in mespss of par value, cormon stock,,$182\mathrm{.}500,,,],[$Fostalnod carninge,,$6$B$\mathrm{.}900,,,],[\backslash$xi $,1,064,500,,,5],[$Statertent of cash flows$],[$Oporating netiviboa$],[,,,,,],[],[,,,,,],[],[],[],[],[$Invocting act vifins$],[,,,,,],[,,,,,],[$Floanding actwites$],[,,,,,],[,,,,,],[,,,,,],[,,,\backslash$xi $,,]]$Golden Corporation'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, and

$(5)$ 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 $ $179,000$ $ $123,500$

Accounts receivable $105,50086,000$

Inventory $623,500541,000$

Total current assets $908,000750,500$

Equipment $375,400314,000$

Accumulated depreciation$$Equipment $(165,500)(111,500)$

Total assets $ $1,117,900$ $ $953,000$

Liabilities and Equity

Accounts payable $ $117,000$ $ $86,000$

Income taxes payable $43,00032,600$

Total current liabilities $160,000118,600$

Equity

Common stock, $$2$ par value $610,000583,000$

Paid$-$in capital in excess of par value, common stock $223,000182,500$

Retained earnings $124,90068,900$

Total liabilities and equity $ $1,117,900$ $ $953,000$

GOLDEN CORPORATION

Income Statement

For Current Year Ended December $31$

Sales $ $1,867,000$

Cost of goods sold $1,101,000$

Gross profit $766,000$

Operating expenses $($excluding depreciation$)509,000$

Depreciation expense $54,000$

Income before taxes $203,000$

Income taxes expense $43,000$

Net income $ $160,000$

Additional Information on Current Year Transactions

Purchased equipment for $$61,400$ cash.

Issued $13,500$ shares of common stock for $$5$ cash per share.

Declared and paid $$104,000$ in cash dividends.

Required:

Prepare a complete statement of cash flows using a spreadsheet under the indirect method.