Use the following information for the problems below.

Required information Use the following information for the Problems below. [The following information applies to the questions displayed below.) 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 $ 164,000 83,000 601, eee 848, eee 335,000 (158,eee) $1,025, eee $ 107,000 71, eee 526, eee 784,800 299, eee (184, eee) $ 899,888 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 liabilities and equity $ 87, eee 28,800 115,00 $ 71, eee 25, eee 96, 80e 592,000 196, eee 122,eee $1,025,000 568,000 168, eae 75, eee $ 899, eee $1,792,000 1,086,000 706,000 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 494,000 Income before taxes Income taxes expense Net income 548,000 158,000 22,000 $ 136,000 Additional Information on Current Year Transactions a. Purchased equipment for $36,000 cash. b. Issued 12,000 shares of common stock for $5 cash per share. c. Declared and paid $89,000 in cash dividends. Homework Sived Help Save & Exit Check my wo Net income $ 136,000 Additional Information on Current Year Transactions a. Purchased equipment for $36,000 cash, b. Issued 12,000 shares of common stock for $5 cash per share c. Declared and paid $89.000 in cash dividends. ok mt roces Problem 12-6A Indirect: Statement of cash flows LO P2, P3 Required: Prepare a complete statement of cash flows using the Indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.) Check my work Problem 12-6A Indirect: Statement of cash flows LO P2, P3 Required: Prepare a complete statement of cash flows using the Indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities ces Adjustments to reconcile net income to not cash provided by operations: Prev 10 of 10 Next Required information 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