Use the following information for the Problems below.(old)

[The following information applies to the questions displayed below.]

Golden Corp., a merchandiser, recently completed its 2018 operations. 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. The companys balance sheets and income statement follow.

GOLDEN CORPORATION Comparative Balance Sheets December 31, 2018 and 2017
	2018				2017
Assets
Cash	$	174,000			$	118,000
Accounts receivable		98,000				81,000
Inventory		616,000				536,000
Total current assets		888,000				735,000
Equipment		361,900				309,000
Accum. depreciationEquipment		(163,000	)			(109,000	)
Total assets	$	1,086,900			$	935,000
Liabilities and Equity
Accounts payable	$	107,000			$	81,000
Income taxes payable		38,000				30,100
Total current liabilities		145,000				111,100
Equity
Common stock, $2 par value		612,000				586,000
Paid-in capital in excess of par value, common stock		206,000				167,000
Retained earnings		123,900				70,900
Total liabilities and equity	$	1,086,900			$	935,000

GOLDEN CORPORATION Income Statement For Year Ended December 31, 2018
Sales				$	1,842,000
Cost of goods sold					1,096,000
Gross profit					746,000
Operating expenses
Depreciation expense	$	54,000
Other expenses		504,000			558,000
Income before taxes					188,000
Income taxes expense					36,000
Net income				$	152,000

Problem 12-6A Indirect: Statement of cash flows LO P1, P2, P3

Additional Information on Year 2018 Transactions

1. Purchased equipment for $52,900 cash.
2. Issued 13,000 shares of common stock for $5 cash per share.
3. Declared and paid $99,000 in cash dividends.

Required: Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

Required information ror Year Enaea DecemDer Jl.ZU1 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations Income statement items not affecting cash Changes in current assets and current liabilities Cash flows from investing activities: 0 Cash flows from financing activities: 0 Net increase (decrease) in cash Cash balance at December 31, 2017 Cash balance at December 31, 2018 0