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
Assets
Cash		$	166,000					$	109,200
Accounts receivable			86,000						73,000
Inventory			604,000						528,000
Total current assets			856,000						710,200
Equipment			340,300						301,000
Accum. depreciationEquipment			(159,000	)					(105,000	)
Total assets		$	1,037,300					$	906,200
Liabilities and Equity
Accounts payable		$	91,000					$	73,000
Income taxes payable			30,000						26,100
Total current liabilities			121,000						99,100
Equity
Common stock, $2 par value			594,400						570,000
Paid-in capital in excess of par value, common stock			199,600						163,000
Retained earnings			122,300						74,100
Total liabilities and equity		$	1,037,300					$	906,200

GOLDEN CORPORATION Income Statement For Current Year Ended December 31
Sales				$	1,802,000
Cost of goods sold					1,088,000
Gross profit					714,000
Operating expenses
Depreciation expense	$	54,000
Other expenses		496,000			550,000
Income before taxes					164,000
Income taxes expense					24,800
Net income				$	139,200

Additional Information on Current Year Transactions

1. Purchased equipment for $39,300 cash.
2. Issued 12,200 shares of common stock for $5 cash per share.
3. Declared and paid $91,000 in cash dividends.

Problem 16-7AA Indirect: Cash flows spreadsheet LO P4

Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positive values.)

GOLDEN CORPORATION
Spreadsheet for Statement of Cash Flows
For Current Year Ended December 31
		Analysis of Changes
	December 31, Prior Year	Debit	Credit	December 31, Current Year
Balance sheetdebit balance accounts
Cash	$109,200			$166,000
Accounts receivable	73,000
Inventory	528,000
Equipment	301,000
	$1,011,200			$166,000
Balance sheetcredit balance accounts
Accumulated depreciationEquipment	$105,000
Accounts payable	73,000
Income taxes payable	26,100
Common stock, $2 par value	570,000
Paid-in capital in excess of par value, common stock	163,000
Retained earnings	74,100
	$1,011,200			$0
Statement of cash flows
Operating activities