[The following information applies to the questions displayed below] 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 Assets Cash Accounts receivable Inventory Total current assets Equipment Accumulated 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 Itabilities and equity Current Year Prior Year $ 166,000 86,000 604,000 856,000 340,300 (159,000) $ 1,037,300 $91,000 30,000 121,000 594,400 199,600 122,500 $ 1,937,300 $ 109,200 73,000 528,000 710,200 301,000 (105,000) $ 906,200 $ 73,000 26,100 99,100 570,000 163,000 74,100 $ 900,200 Sales GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Cost of goods sold, Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Niet income Additional Information on Current Year Transactions o. Purchased equipment for $39,300 cash. $ 1,802,000 1,088,000 714,000 496,000 54,000 164,000 24,800 $ 139,200 b. Issued 12 200 shares of common stock for $5 cash per share. c. Declared and paid $91.000 in cash dividends Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method Note: Enter all amounts as positive values. GOLDEN CORPORATION Required information. GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 December 31, Prior Year Balance sheet-debit balance accounts Cash S 109.200 Accounts receivable 73,000 Inventory 528,000. Equipment 301,000 1.011 200 Balance sheet-credit balance accounts Accumulated depreciation-Equipment S 105.000 Accounts payable 73.000 ncome taxes payable 20,100 Common stock $2 per valus 570 000 Paid-in capital in excess of per value common stock 163 000 74 100 Analysis of Changes Debit Credit $3 December 31, Current Year 166.000 166.000 Required information. Statement of cash flows Operating activities Investing activities Financing activities + GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities 0 Required information Statement UECASIE FIUWS Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at December 31, prior year Cash balance at December 31, current year $ 0 0 0 $ 0