Use the following information for the Problems below. (Algo) Skip to question [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 Current Year Prior Year Assets Cash $ 167,000 $ 110,300 Accounts receivable 87,500 74,000 Inventory 605,500 529,000 Total current assets 860,000 713,300 Equipment 343,000 302,000 Accumulated depreciationEquipment (159,500) (105,500) Total assets $ 1,043,500 $ 909,800 Liabilities and Equity Accounts payable $ 93,000 $ 74,000 Income taxes payable 31,000 26,600 Total current liabilities 124,000 100,600 Equity Common stock, $2 par value 595,600 571,000 Paid-in capital in excess of par value, common stock 201,400 164,500 Retained earnings 122,500 73,700 Total liabilities and equity $ 1,043,500 $ 909,800 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales $ 1,807,000 Cost of goods sold 1,089,000 Gross profit 718,000 Operating expenses (excluding depreciation) 497,000 Depreciation expense 54,000 Income before taxes 167,000 Income taxes expense 26,200 Net income $ 140,800 Additional Information on Current Year Transactions Purchased equipment for $41,000 cash. Issued 12,300 shares of common stock for $5 cash per share. Declared and paid $92,000 in cash dividends. Problem 16-6A (Algo) Indirect: Statement of cash flows LO P2, P3 Required: Prepare a complete statement of cash flows using the indirect method for the current year. Note: Amounts to be deducted should be indicated with a minus sign.